Christine Lagarde to Lead the World Economic Forum starting in 2027

According to these sources, Peter Brabeck-Letmathe, who was appointed interim chairman of the Forum on April 21 following the controversial resignation of founder and long-time president Klaus Schwab, will hold the position for two years. After his term, Ms. Lagarde will succeed him once her mandate at the ECB concludes, the newspaper reports.

On April 21, Mr. Schwab announced that due to his age, he was stepping down from the organization’s affairs and resigning from his roles as president and board member. On April 23, The Wall Street Journal reported that the WEF’s board had launched an independent investigation into Mr. Schwab following an anonymous letter accusing him and his wife of financial misconduct and ethical violations.

Schwab allegedly used Forum funds for personal purposes, including financing massages, and reportedly instructed employees to withdraw cash for his use. His wife, Hilde Schwab, is also accused of organizing luxury vacations at the Forum’s expense, disguising them as symbolic work trips.