Klaus Schwab speaks as part of SWITCH GREEN during day 1 of the Greentech Festival at Kraftwerk Mitte aired on Sept. 16, 2020 in Berlin, Germany.
The World Economic Forum confirmed Tuesday that founder Klaus Schwab is moving away from the day-to-day management of the organization after more than 50 years at the helm.
The forum said that the move was part of a years' long strategy to change its management structure, shifting governance to a president and managing board.
The forum did not reveal who would succeed Schwab and become the face of its elite annual meeting in Davos, Switzerland.
The non-profit think tank confirmed that Schwab would transition to a role as chairman of the board of trustees.
Persons:
Klaus Schwab, Brende, Schwab, WEF
Organizations:
Kraftwerk, Economic, CNBC
Locations:
Berlin, Germany, Davos, Switzerland