Overview

• Klaus Schwab, founder of the World Economic Forum, announced his immediate resignation on April 21, citing his age but offering no further explanation.
• An anonymous letter accuses Schwab and his wife of misusing Forum resources for personal expenses, including cash withdrawals and luxury services.
• The WEF board unanimously launched an internal investigation into the allegations and appointed Peter Brabeck-Letmathe as interim president.
• The letter also alleges Schwab fostered a toxic workplace culture, including claims of sexual harassment and discriminatory behavior.
• Schwab has denied all accusations, calling them defamatory, and plans to pursue legal action against those behind the claims.