World Economic Forum board backs launch of independent probe into founder Klaus Schwab
Advertisement
Read this article for free:
or
Already have an account? Log in here »
To continue reading, please subscribe:
Digital Subscription
One year of digital access for only $205*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*First annual payment billed as $205.00 + GST for one year. This annual subscription will automatically renew at $233.00 + GST every 52 weeks (10% off the regular annual price of $259.35). Offer available to new and qualified returning subscribers only. Cancel any time.
To continue reading, please subscribe:
Add Free Press access to your Brandon Sun subscription for only an additional
$1 for the first 4 weeks*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Your next Brandon Sun subscription payment will increase by $1.00 and you will be charged $17.95 plus GST for four weeks. After four weeks, your payment will increase to $24.95 plus GST every four weeks.
Read unlimited articles for free today:
or
Already have an account? Log in here »
Hey there, time traveller!
This article was published 23/04/2025 (504 days ago), so information in it may no longer be current.
GENEVA (AP) — The World Economic Forum, which runs an annual gathering of elites in Davos, Switzerland, says its board has given its unanimous support for an independent investigation into allegations of misconduct by founder Klaus Schwab.
The statement from the Geneva-based think tank and event organizer late Tuesday came after a report published by The Wall Street Journal cited a whistleblower letter alleging financial and ethical misconduct by Schwab, 87, and his wife, Hilde.
The newspaper reported that the allegations were sent in an anonymous letter to the board last week and included claims that the Schwab family mixed their personal affairs with Forum resources.
In a statement sent to The Associated Press, the Forum said its board — which includes former U.S. Vice President Al Gore, Jordan’s Queen Rania and European Central Bank President Christine Lagarde as members — agreed to a decision by its risk and audit committee to open the probe.
“While the Forum takes these allegations seriously, it emphasizes that they remain unproven, and will await the outcome of the investigation to comment further,” the statement said.
The AP was not immediately able to reach Schwab or a contact person for him.
The allegations emerged two days after the WEF announced Schwab had retired “with immediate effect” as chairman, and that former Nestle Chairman and CEO Peter Brabeck-Letmathe was taking over as interim chairman.
For decades, the Forum’s annual gathering in Davos has hosted top business executives, government leaders, academics, international organizations, cultural figures, sports legends and celebrities to discuss government policy, deal-making and current affairs.