WEF Trustees Deadlock on 28-Member Board Overhaul as Lagarde Weighs Chair Bid
Updated
Updated · Financial Times · Jul 10
WEF Trustees Deadlock on 28-Member Board Overhaul as Lagarde Weighs Chair Bid
1 articles · Updated · Financial Times · Jul 10
Summary
A late-June WEF trustees meeting ended without a vote on governance changes, leaving plans to shrink the forum’s 28-member board stalled after neither camp secured a majority.
Larry Fink and allies pushed to concentrate decision-making in a smaller group, arguing the current structure weakens clarity, efficiency and accountability; Switzerland’s foundation regulator has backed a leaner board.
Klaus Schwab privately opposed the overhaul and sent trustees a letter warning a smaller board could dilute the multi-stakeholder model he built, while bylaw changes under discussion could also curb his family’s board rights.
The impasse leaves the forum’s leadership transition unresolved as Christine Lagarde considers whether to seek the chair, with interim co-chairs Fink and André Hoffmann still in place after Schwab’s 2025 exit and Børge Brende’s resignation.