The World Economic Forum is exploring options to shrink its 28-member board of trustees, according to reporting by the Financial Times. The contemplated reconfiguration would shorten the trustees' roster and could strengthen the role of the group's co-chairs, Larry Fink of BlackRock and André Hoffmann of Roche.
People familiar with discussions at the organisation say formal proposals to pare down the trusteeship are likely to be debated in the coming months. Those sources indicate that a decision on whether to proceed could be reached as soon as the trustees' biannual in-person meeting this summer.
The potential board reduction takes place as the Forum seeks to recover from a recent period of organisational turbulence. Founder Klaus Schwab stepped down from the chair role last year amid investigations into alleged financial misconduct and accusations of overseeing a toxic workplace. In February, chief executive Børge Brende resigned following revelations of ties to the late sex offender Jeffrey Epstein.
Supporters of trimming the trusteeship note the change could consolidate executive authority and provide clearer lines of leadership at the top of the Forum. Critics have cautioned that concentrating power could carry its own risks for governance and oversight. Discussions inside the organisation are ongoing and have not yet produced a final decision.
Key timing milestones include internal debates in the coming months and the possibility that trustees will vote on proposals at their summer in-person meeting. Until those deliberations run their course, the scope and specifics of any restructuring remain undetermined.
Summary of the situation
- The Forum is considering reducing the 28-member board of trustees.
- The move could bolster the positions of co-chairs Larry Fink and André Hoffmann by centralising authority.
- Formal debate on proposals is expected in the coming months, with a possible decision at the trustees' biannual in-person meeting this summer.
- This review follows departures and investigations involving senior leadership, including the resignation of founder Klaus Schwab as chair last year and CEO Børge Brende in February.
What remains uncertain
- Whether trustees will approve any concrete reduction and, if so, how many seats would be cut.
- The final composition of leadership and the precise mechanisms by which authority might be consolidated.
- The timing and procedural steps for implementing any approved changes.