World Economic Forum replaces Schwab with Fink. The World Economic Forum (WEF) announced on August 15, 2025, that BlackRock CEO Larry Fink and Roche Vice-Chair André Hoffmann have been appointed as interim chairs of its board, as reported by the Financial Times and confirmed in posts on X. This follows the departure of WEF founder Klaus Schwab, with former Nestlé CEO Peter Brabeck serving as interim chair until this transition. The move comes amid reported tensions, including allegations of governance misconduct against Schwab and a push by BlackRock to influence the WEF’s direction, highlighted by the recent addition of former Swiss National Bank Chairman Philipp Hildebrand, a BlackRock executive, to the WEF Foundation Board. Fink, a long-standing WEF board member known for his advocacy of sustainable investing, and Hoffmann, a Roche heir and environmental advocate, are tasked with guiding the WEF’s mission during this transitional period. No official WEF statement has detailed the duration of their interim roles or a permanent successor to Schwab.