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    WEF founder Klaus Schwab to resign

    Klaus Schwab, the 86-year-old founder of the World Economic Forum, is set to resign as its executive chair in January 2025.
    Source: World Economic Forum. WEF founder, Klaus Schwab.
    Source: World Economic Forum. WEF founder, Klaus Schwab.

    This is in lieu of Børge Brende, president of the WEF stepping into this role.

    Schwab has led the world's foremost business conference - held annually in Davos, Switzerland - since 1971.

    He will now preside as chair of WEF’s board of trustees.

    The organisation is moving from being a founder-managed organisation to one where a president and managing board assume full executive responsibility.

    This year, the organisation hosted more than 50 heads of state, policymakers and business leaders.

    The WEF, owned by a charitable organisation, attracts an annual revenue of €500m, with firms paying up to $658,000 a year in membership fees.

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