World Economic Forum founder Klaus Schwab, who recently turned 87, has stepped down from the organization’s board of trustees.
“Following my recent announcement, and as I enter my 88th year, I have decided to step down from the position of Chair and as a member of the Board of Trustees, with immediate effect,” Schwab told the board, according to a WEF news release.
The WEF’s board of trustees includes notable figures such as former U.S. Vice President Al Gore, a Democrat who served alongside President Bill Clinton, and Larry Fink, chair and chief executive officer of investing firm BlackRock.
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“At an extraordinary Board meeting on 20 April, the Board of Trustees took note of the resignation of Klaus Schwab,” the news release noted.
The organization is behind the annual Davos meeting, which draws high-profile political, business, and academic leaders from around the world.
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Shortly after taking office earlier this year, President Donald Trump delivered remarks remotely to the WEF gathering.
During the event, when responding to a question from Brian Moynihan, chair of the board and CEO of Bank of America, Trump said, “You’ve done a fantastic job, but I hope you start opening your bank to conservatives, because many conservatives complain that the banks are not allowing them to do business within the bank, and that included a place called Bank of America.”
The WEF had announced last year: “By January 2025, Klaus Schwab will transition from Executive Chairman to Chairman of the Board of Trustees.”
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The WEF’s website states that the organization “engages political, business, academic, civil society and other leaders of society to shape global, regional and industry agendas.”
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