Klaus Schwab Cleared Of Misconduct After Internal Probe By World Economic Forum

2025-08-17 12:05:33

(MENAFN- AzerNews) An internal investigation conducted by the World Economic Forum (WEF) has found no evidence of ethical or financial misconduct by its founder, Klaus Schwab, following anonymous allegations earlier this year, Azernews reports, citing international media.

According to information, the probe-carried out by an independent law firm on behalf of the Forum-concluded that the 87-year-old Schwab did not violate any major rules or regulations. In a formal statement, the WEF said that while there were minor inconsistencies between Schwab's personal activities and the organization's operations, these were not intentional and instead reflected his deep commitment to the Forum.

The investigation was launched after a Wall Street Journal report published in the spring cited anonymous sources alleging financial and ethical improprieties involving Schwab and his wife. In response, Schwab temporarily stepped back from his leadership duties, strongly denied the claims, and initiated legal action over what he described as defamatory accusations.

A spokesperson for Schwab said he accepts the findings of the investigation and remains open to future cooperation, although he will no longer hold an official position within the organization.

Leadership changes at the Forum have followed. Peter Brabeck-Letmathe, former chairman of Nestlé, was appointed chair of the WEF's Board of Trustees but resigned shortly thereafter. His duties are now being handled on an interim basis by André Hoffmann, heir to pharmaceutical giant Roche, and Larry Fink, CEO of investment firm BlackRock.

The Forum's new leadership has pledged to take the necessary steps to ensure the WEF remains a resilient and effective platform for public-private collaboration.

Founded by Klaus Schwab in 1971, the World Economic Forum hosts its flagship annual summit in Davos, Switzerland, bringing together global leaders from politics, business, academia, and civil society. It is widely regarded as one of the world's most influential platforms for international dialogue and cooperation.

MENAFN17082025000195011045ID1109937474

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.