Klaus Schwab, founder of the World Economic Forum, whose annual gathering of business and political leaders in the Swiss mountain resort of Davos became a symbol of globalisation, has resigned as chair of its trustees.

Klaus Schwab, Founder and Chairman of the World Economic Forum’s (WEF) Board of Trustees, has officially resigned after 55 years of service in the Geneva-based institution. Schwab, who is entering his 88th year,

The board, which includes ex-U.S. Vice President Al Gore and Jordan's Queen Rania, took note that Schwab created the "leading global platform" for "dialogue and progress" during his 55 years of "relentless leadership at the helm of the Forum."