Klaus Schwab, the founder and long-time chairman of the World Economic Forum (WEF), announced his resignation amidst ongoing criticisms regarding the organization's perceived elitism and disconnect from everyday people. Schwab led the WEF for over half a century, hosting influential figures in policymaking and corporate sectors since its inception in 1971. Despite the WEF's aim to address significant global issues, it has drawn criticism from various groups, with Schwab himself often targeted by conspiracy theories. Peter Brabeck-Letmathe is named interim chairman as the search for a new leader begins.
Klaus Schwab's resignation as chairman of the World Economic Forum marks the end of his 50-year leadership, amid criticisms of elitism and detachment from ordinary lives.
Schwab, who founded the WEF in 1971 aimed at addressing global issues, faced mounting backlash over the organization's perceived elitist nature and disconnect from common people.
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