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World Economic Forum launches probe into founder Klaus Schwab over whistleblower allegations

1 min Sandrine Zimra

The World Economic Forum announced on Tuesday that it has launched an investigation into its founder, Klaus Schwab, following a whistleblower letter alleging misconduct by the former chairman.

World Economic Forum (WEF) Founder and Chairman Klaus Schwab gives his welcoming remarks at the 55th annual World Economic Forum (WEF) meeting in Davos, Switzerland, January 21, 2025. Reuters/Yves Herman

World Economic Forum (WEF) Founder and Chairman Klaus Schwab gives his welcoming remarks at the 55th annual World Economic Forum (WEF) meeting in Davos, Switzerland, January 21, 2025. Reuters/Yves Herman

The World Economic Forum announced on Tuesday that it has launched an investigation into its founder, Klaus Schwab, following a whistleblower letter alleging misconduct by the former chairman.

The announcement came a day after the 87-year-old Schwab said he was resigning as chairman, effective immediately, without stating a reason.

The Wall Street Journal, which first reported the probe, said an anonymous letter sent last week to the WEF's board raised concerns about its governance and workplace culture, including allegations that the Schwab family mixed their personal affairs with the forum's resources without proper oversight.

The WEF "takes these allegations seriously, it emphasizes that they remain unproven, and will await the outcome of the investigation to comment further," the forum said in an emailed statement to Reuters. It did not provide details on the allegations.

A spokesman for the Schwab family denied all the allegations in the whistleblower complaint, the Wall Street Journal reported. The spokesman also told the Journal that Klaus Schwab intends to file a lawsuit against whoever is behind the anonymous letter and "anybody who spreads these mistruths."

Reuters could not immediately reach the Schwab family for comment.

The WEF's Davos gathering in recent years has drawn criticism from both the left and the right as an elitist talking shop detached from the lives of ordinary people. It also has faced negative reports about its internal culture.

The Journal previously reported that the WEF's board was working with a law firm to investigate the forum's workplace culture, after the newspaper reported allegations of harassment and discrimination at the forum. The WEF denied those allegations.

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Sandrine Zimra

Sandrine Zimra

Sandrine Zimra has been a financial analyst for 25 years. Based in Geneva, she covers countries in the Middle East and travels regularly to the United Arab Emirates, Saudi Arabia, Qatar, Bahrain, Egypt, and Israel. She contributes to Mena Today with her financial reports and insights on the region.

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