Original Davos Man unveils half a succession plan

Mountain retreat. original “Davos Man” is handing over some of his power. Klaus Schwab, founder of World Economic Forum, will next year give up executive duties at group which hosts annual conflab in Swiss mountain resort. Though he will remain its public face for now, shift should make it slightly easier for WEF to eventually nominate a successor.
86-year-old Schwab is synonymous with organisation he set up in 1971. By assiduously schmoozing world leers, chief executives and financiers, he has inked its garing every January into calendars of global elite. He also displayed an aptitude for navigating economic and geopolitical shifts. After financial crisis of 2008, for example, Schwab courted leers in emerging markets. And when Donald Trump won 2016 U.S. presidential election with a campaign that was antisis of WEF’s ideals, Schwab persued former reality TV star to present his “America First” agenda to Davos crowd. organisation has bounced back from a global pandemic which forced it to cancel one garing and postpone a second: revenue for year to June 2023 exceeded 400 million Swiss francs.

latest rejig does not answer question of who will take Schwab’s role at he of organisation that now describes itself, with characteristic self-importance, as “ leing global institution for public-private cooperation”. He will be chairman of WEF’s board of trustees, whose members include European Central Bank boss Christine Lagarde and BlackRock Chairman Larry Fink. Executive responsibilities will rest with a team led by Borge Brende, low-key Norwegian who was formerly Nordic country’s foreign minister and has been WEF’s president since 2017. leership team also includes both of Schwab’s children.

Even so, switch could smooth process of eventually identifying Schwab’s replacement. Davos delegates have been speculating about potential successors for deces. Yet it’s easier to imagine a figure like Lagarde or, say, former British Prime Minister Tony Blair, stepping into a non-executive role. Even n, filling Schwab’s shoes would be a challenge. It’s also far from clear how many powerful figures would want to le an organisation that features prominently in conspiracy ories. Neverless, Schwab has improved chances that moniker “Davos Man” will outlive him.