(MENAFN- Swissinfo) Battered by scandal, the Swiss organisation behind the annual summit faces a moment of crisis. Insiders say its future may depend on the success of next year's meeting. This content was published on October 9, 2025 - 12:50 17 minutes Mercedes Ruehl in Geneva, Financial Times

In early August, a confidential 37-page report was presented to the World Economic Forum's board of trustees. It was the culmination of a sweeping months-long inquiry that had gripped one of the most visible institutions in the world of international policy and business – and centred on the man who built it.

Investigators led by Swiss law firm Homburger had scoured more than 100,000 emails, reviewed 65,000 further documents and questioned 59 current and former staff in 86 interviews, according to the report.

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The intent was to determine whether Klaus Schwab, the forum's 87-year-old founder, and his wife, Hilde, had turned the WEF into not only a private fiefdom but also a personal cash machine.

The conclusion was unequivocal: no criminal misconduct was substantiated. There had been irregularities – expenses without clear business justification, blurred lines between personal and professional spending, awkward emails, poor people management – but nothing that crossed into illegality.

For Schwab, the findings were meant as vindication. In the same week, at a tense meeting of the board – which included European Central Bank president Christine Lagarde, BlackRock chief Larry Fink and other influential names – he demanded a financial settlement and a public acknowledgment that the allegations against him and his wife were false.

For some others present, however, the report confirmed a deeper problem: a pattern of unilateral decision-making and blurred governance by a founder who had long run the forum like a family business.

When the Geneva-based organisation finally issued its statement on August 15, the tone was careful.“Minor irregularities, stemming from blurred lines between personal contributions and forum operations, reflect deep commitment rather than intent of misconduct,” it said.

Fink and Roche vice-chair André Hoffmann were appointed interim co-chairs. Schwab was not granted the title of honorary chair.

The forum's“next chapter”, the statement concluded,“will be guided by the original mission developed by Klaus Schwab: bringing together government, business and civil society to improve the state of the world”.

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