Briefly

WORLD ECONOMIC FORUM

Founder Schwab to step down as chair

The World Economic Forum founder Klaus Schwab will "start the process" of stepping down as chair of its board of trustees, a spokesperson for the Geneva-based institution told Reuters on Thursday. Schwab said the forum, which convenes annual gatherings in the Swiss resort of Davos, must recover its "sense of mission" after a period of turmoil, the Financial Times reported. He did not give a timeline for his departure.