Christine Lagarde, the president of the European Central Bank (ECB), has indicated a potential conclusion to her term in order to assume leadership of the World Economic Forum (WEF), as stated by the forum’s founder.

Klaus Schwab, the former chairman of the WEF who recently stepped down amid misconduct allegations, revealed that Lagarde has been making preparations, including searching for accommodation in Switzerland, to succeed him as chair in 2027.

The WEF convenes influential leaders from business, finance, and politics annually in Davos, Switzerland, and has solidified its status as a premier networking event for the global elite over the last two decades.

In an interview with the Financial Times, Schwab, aged 87, mentioned that he had discussed the leadership transition with Lagarde last month, stating, “I will remain chair until she is prepared to take over, at the latest, by early 2027.”

Lagarde’s eight-year term at the ECB is set to conclude in October 2027. She has made history as the first individual outside of traditional central banking to lead the monetary authority since the euro’s inception in the early 2000s. During her leadership, she has managed the European Union’s response to the COVID-19 pandemic through significant stimulus measures and has implemented aggressive interest rate hikes to combat inflation throughout 2022.

Additionally, there are speculations regarding Lagarde’s potential return to French politics, particularly concerning the presidential elections in 2027.

An ECB spokesperson emphasized, “President Lagarde has consistently demonstrated her dedication to fulfilling her duties and is resolute in completing her term.” Schwab’s resignation from the WEF, which he founded in 1971, followed controversy surrounding allegations of financial misconduct and employee mistreatment, alongside claims that his wife misappropriated funds from the organization. These allegations are currently under investigation by the WEF, which Schwab denies.

Since 2019, Lagarde has served on the WEF’s board of trustees alongside prominent figures such as Larry Fink, CEO of BlackRock, Mukesh Ambani, chairman of Reliance Industries, and former U.S. Vice President Al Gore.

The WEF generates substantial revenue through membership fees and additional charges for delegates attending its annual event in the Swiss Alps.