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World Economic Forum Launches Investigation Into Klaus Schwab After Sudden Resignation

The WEF founder denies allegations of misconduct detailed in a whistleblower letter and plans legal action to defend his reputation.

Klaus Schwab zog sich am Montag überraschend vom WEF-Vorsitz zurück
Der Deutsche Klaus Schwab, Gründer des Weltwirtschaftsforums (WEF), das die jährliche Tagung in Davos organisiert.
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Overview

  • The World Economic Forum has initiated an internal investigation following a whistleblower letter accusing Klaus Schwab of financial, ethical, and sexual misconduct.
  • Schwab, who abruptly resigned as WEF chairman on April 21, denies all allegations and intends to pursue legal action against the whistleblower and others spreading the claims.
  • The whistleblower alleges Schwab misused WEF funds for personal expenses, including cash withdrawals and luxury hotel services, and raised concerns about broader governance issues under his leadership.
  • Peter Brabeck-Letmathe, former Nestlé CEO and long-time WEF board member, has been appointed as interim chairman to oversee the investigation and manage leadership succession.
  • The allegations come amid longstanding scrutiny of the WEF's workplace culture and governance practices, raising questions about accountability within the influential global institution.