Five years ago, Klaus Schwab, the founder and executive chairman of the World Economic Forum, penned the Davos Manifesto stating, “The purpose of a company is to engage all its stakeholders in shared and sustained value creation.”
Today, we are approaching a pivotal moment for stakeholder capitalism. Schwab is expected to step down by early 2025, Jamie Dimon of JPMorgan has hinted at retirement, and Larry Fink of BlackRock may be nearing retirement as well. These leaders have championed a more inclusive, stakeholder-driven approach to business. With their departures on the horizon, it’s important to ask: Who will carry this torch forward?
