The founder of the World Economic Forum Klaus Schwab has stepped down from the organization’s board of directors after more than 50 years at the helm. He will be succeeded on an interim basis by the WEF’s vice chairman Peter Brabeck-Letmathe,

MAGA is celebrating the resignation of Klaus Schwab, the founder of the World Economic Forum (WEF), after he announced he was stepping down as chair of the board of trustees. The WEF board said in the statement on Monday that it had accepted Schwab's resignation at a meeting on April 20.

The chairman of the World Economic Forum will step down "with immediate effect," the Swiss-based non-governmental organization announced Monday. On Sunday, during a special meeting, the board of trustees of the World Economic Forum accepted the resignation of its longtime leader Klaus Schwab.