The WEF has faced criticism and a decline in prestige, particularly in a world increasingly influenced by populist figures like Donald Trump.

Internal issues have also been highlighted, with former employees reporting complaints of sexism and racism, which Schwab and the Forum have denied.

Christine Lagarde, President of the European Central Bank, is rumored to be a potential successor, although her current contract runs until October 2027.

Geopolitical tensions, including the Ukraine war and the US trade conflict, present further challenges to the institution.

The Forum has expanded its scope over the years, establishing regional meetings and thematic centers focused on key global issues like supply chains and cybersecurity.

Despite facing criticism, the WEF aims to improve the state of the world through dialogue and collaboration amidst rapid global changes.

Operating with approximately 1,000 employees and generating an annual revenue of 400 million Swiss francs, the WEF's mission is said to remain unchanged following Schwab's resignation.

Klaus Schwab, the founder of the World Economic Forum (WEF), announced his resignation as chairman of the board on April 21, 2025, as he approaches his 88th birthday.

Peter Brabeck-Letmathe, the vice-chairman, has been appointed to temporarily take over Schwab's responsibilities during this transition.

Finding a successor for Schwab is expected to be challenging, given his central role in the organization for nearly fifty-five years.

Other names considered for succession include Ursula von der Leyen, President of the European Commission, and Thomas Buberl, CEO of AXA, but both are currently unavailable.

As millions prepare to vote in upcoming elections, the WEF has warned about the dangers of misinformation, particularly in the context of rapid advancements in artificial intelligence.