The World Economic Forum (WEF) confirmed on Friday that Thomas Buberl, CEO of French insurer AXA, has resigned from its foundation board. The departure, which occurred in August, reduces the 28-member body to 27 participants.
The WEF did not disclose reasons for Buberl's exit. His departure follows a period of sustained leadership turmoil at the organization. The foundation board is currently deliberating over the forum's future leadership, with European Central Bank President Christine Lagarde identified as a leading candidate for the presidency.
Lagarde, according to reports by the Neue Zürcher Zeitung and Bloomberg, has indicated willingness to assume the role but emphasized the need to first resolve tensions between the WEF and its founder, Klaus Schwab. Schwab left the organization in April 2025, leaving a strained relationship between his former entity and the WEF.
The leadership instability continued in early 2026 with the resignation of long-serving President and CEO Borge Brende. Since then, BlackRock CEO Larry Fink and Roche Vice Chairman André Hoffmann have jointly led the foundation board, while Alois Zwinggi serves as the operational head.
Buberl was previously reported by the NZZ as part of a faction critical of Schwab's legacy. His exit follows those of Brende and former Nestlé Chairman Peter Brabeck, both of whom also departed the WEF in recent years.
