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World Economic Forum Clears Founder Klaus Schwab and Names Fink as Co-Chair
The World Economic Forum board found no evidence of material wrongdoing by founder Klaus Schwab and appointed Larry Fink and Andre Hoffmann as interim leaders to strengthen governance.
- Following a thorough review, the WEF Board of Directors cleared Klaus Schwab and Hilde Schwab of wrongdoing Friday, finding no evidence of misconduct.
- Following whistleblower complaints, the World Economic Forum launched an investigation after an anonymous letter alleged Schwab directed staff to withdraw `thousands of dollars` and paid for massages with Forum funds.
- The WEF board retained an independent law firm to examine allegations against Klaus Schwab, reviewing claims he used Forum resources for personal use.
- Also on Friday, the WEF said it will replace Peter Brabeck-Letmathe with Larry Fink and Andre Hoffmann as interim leaders of the board of trustees.
- Following the investigation, the World Economic Forum Board of Directors pledged to strengthen governance by addressing all issues identified, noting minor irregularities reflected deep commitment rather than misconduct.
71 Articles
71 Articles
Channel News Asia
The Straits TimesWEF clears founder Schwab of wrongdoing; appoints interim co-chairs
The World Economic Forum (WEF) closed an investigation into its founder Klaus Schwab on Friday (Aug 15), clearing him of any wrongdoing, and appointed BlackRock CEO Larry Fink and Roche Holding's vice-chair Andre Hoffmann as interim co-chairs of its board. The Geneva-based organisation had launched an inve
WEF Investigation Finds ‘Minor Irregularities,’ No Material Wrongdoing by Schwab
The World Economic Forum has cleared its founder, Klaus Schwab, of material wrongdoing following an internal investigation into allegations of financial and workplace misconduct. In an announcement published on Aug. 15, the Davos, Switzerland-based organization said the probe, conducted by Swiss law firm Homburger, identified “minor irregularities” in expenses but concluded there was “no evidence of material wrongdoing” by Schwab or his wife, Hi…
After anonymous references to misconduct by WEF founder Klaus Schwab and his wife, the Foundation has arranged an investigation. Now it presents the result.
After anonymous accusations, the World Economic Forum examines possible misconduct of its founder Klaus Schwab. A law firm finds no evidence of serious misconduct - but remains without an official function.
Anonymous references to the ethical and financial misconduct of the founder of the World Economic Forum, Schwab, moved him to resign. Now he is relieved of an investigation.[more]]>
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