Klaus Schwab, founder and central figure of the World Economic Forum (WEF), has announced his departure from the role of Chairman of the Board, a position he has held since establishing the organization in 1971. The announcement, made public on April 21st, comes at a delicate moment for the institution, following the launch of an internal investigation into Schwab’s management of resources and governance structures involving his family circle.
The interim leadership will be assumed by Peter Brabeck-Letmathe, former Chairman and CEO of Nestlé, who has been a member of the WEF board for years. Brabeck is well-known for his controversial views on water management. On several occasions, he has stated that water should be considered an economic resource subject to regulation and commercialization as it is a “precious resource.”
Brabeck’s appointment reinforces one of the longstanding criticisms of the Forum: its alignment with corporate interests above the needs of ordinary citizens. Nestlé has been repeatedly accused of exploiting water resources in developing countries, alongside a policy of water privatization that has generated public outrage in various social and environmental sectors.
