<p>New Delhi/Geneva: The <a href="https://www.deccanherald.com/tags/world-economic-forum">World Economic Forum</a> on Monday announced that its founder Klaus Schwab has decided to step down as Chairperson and member of its board of trustees with immediate effect.</p>.<p>Schwab has been synonymous with the Geneva-based organisation he has headed since it was founded 55 years ago.</p>.<p>"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 informed the board.</p>.WEF President praises Revanth Reddy's vision of transforming Telangana into $1 trillion economy in 10 years.<p>At an extraordinary board meeting on Sunday, the board took note of the resignation of Schwab and unanimously appointed Vice Chairman Peter Brabeck-Letmathe as Chairman ad interim.</p>.<p>It also established a Search Committee for the selection of a future Chair, the WEF said in a statement.</p>.<p>WEF, which describes itself as an international organisation for public-private cooperation, hosts its flagship annual meeting every year in Davos and is attended by top government and business leaders from across the world, including India.</p>.<p>The Davos meeting is the largest such congregation of leaders from the public and private sectors, besides leaders from academia, culture and civil society, among others.</p>.<p>The WEF said the board acknowledged the outstanding achievements of the retired Chairman and Founder of the WEF.</p>.<p>"He created the leading global platform for dialogue and progress, and the Board expressed its gratitude for his 55 years of relentless leadership at the helm of the Forum," it added.</p>.<p>The board of trustees include Reliance Industries Chairman Mukesh Ambani, World Bank President Ajay Banga, IMF chief Kristina Georgieva, European Central Bank President Christine Lagarde, WTO chief Ngozi Okonzo-Iweala, and Singapore President Tharman Shammugaratnam, among others.</p>.<p>The WEF said at a time when the world is undergoing rapid transformation, the need for inclusive dialogue to navigate complexity and shape the future has never been more critical.</p>.<p>"The Board of Trustees of the World Economic Forum underlines the importance of remaining steadfast in its mission and values as a facilitator of progress. Building on its trusted role, the Forum will continue to bring together leaders from all sectors and regions to exchange insights and foster collaboration," it added.</p>
<p>New Delhi/Geneva: The <a href="https://www.deccanherald.com/tags/world-economic-forum">World Economic Forum</a> on Monday announced that its founder Klaus Schwab has decided to step down as Chairperson and member of its board of trustees with immediate effect.</p>.<p>Schwab has been synonymous with the Geneva-based organisation he has headed since it was founded 55 years ago.</p>.<p>"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 informed the board.</p>.WEF President praises Revanth Reddy's vision of transforming Telangana into $1 trillion economy in 10 years.<p>At an extraordinary board meeting on Sunday, the board took note of the resignation of Schwab and unanimously appointed Vice Chairman Peter Brabeck-Letmathe as Chairman ad interim.</p>.<p>It also established a Search Committee for the selection of a future Chair, the WEF said in a statement.</p>.<p>WEF, which describes itself as an international organisation for public-private cooperation, hosts its flagship annual meeting every year in Davos and is attended by top government and business leaders from across the world, including India.</p>.<p>The Davos meeting is the largest such congregation of leaders from the public and private sectors, besides leaders from academia, culture and civil society, among others.</p>.<p>The WEF said the board acknowledged the outstanding achievements of the retired Chairman and Founder of the WEF.</p>.<p>"He created the leading global platform for dialogue and progress, and the Board expressed its gratitude for his 55 years of relentless leadership at the helm of the Forum," it added.</p>.<p>The board of trustees include Reliance Industries Chairman Mukesh Ambani, World Bank President Ajay Banga, IMF chief Kristina Georgieva, European Central Bank President Christine Lagarde, WTO chief Ngozi Okonzo-Iweala, and Singapore President Tharman Shammugaratnam, among others.</p>.<p>The WEF said at a time when the world is undergoing rapid transformation, the need for inclusive dialogue to navigate complexity and shape the future has never been more critical.</p>.<p>"The Board of Trustees of the World Economic Forum underlines the importance of remaining steadfast in its mission and values as a facilitator of progress. Building on its trusted role, the Forum will continue to bring together leaders from all sectors and regions to exchange insights and foster collaboration," it added.</p>