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Geneva, Switzerland – 16 August 2025
The World Economic Forum (WEF) has officially concluded its internal investigation into allegations against its founder, Klaus Schwab, clearing him of any material wrongdoing. The announcement comes months after Schwab stepped down as chairman, following the emergence of whistleblower claims regarding governance and resource use within the organization.
🔹 Investigation Findings
The WEF launched the probe in April 2025 after receiving an anonymous whistleblower letter alleging that Schwab and his wife, Hilde Schwab, had blurred the lines between personal affairs and Forum operations. The Wall Street Journal first reported the existence of the letter, which raised concerns about workplace culture and financial oversight.
On August 15, the WEF board released its findings, stating:
“There is no evidence of material wrongdoing by Klaus Schwab. Minor irregularities, stemming from blurred lines between personal contributions and Forum operations, reflect deep commitment rather than intent of misconduct.”
The investigation also found no misconduct by Hilde Schwab, who had served as Schwab’s assistant for many years.
🔹 Leadership Transition
Following the conclusion of the probe, the WEF announced a leadership reshuffle. BlackRock CEO Larry Fink and Roche Holding Vice-Chair André Hoffmann have been appointed as interim co-chairs of the Forum’s board. They replace Peter Brabeck-Letmathe, who had served as interim chairman during the investigation.
In a joint statement, Fink and Hoffmann expressed their commitment to “reinventing and strengthening the organisation” during this transitional phase.
🔹 Schwab’s Response
A spokesperson for Schwab confirmed that he intends to drop his lawsuit against the WEF and a separate legal action against the anonymous whistleblowers. Schwab, 87, had filed a criminal complaint earlier this year in response to the allegations.
🔹 Broader Context
For decades, Klaus Schwab has been the face of the WEF’s annual summit in Davos, a gathering of global business and political leaders that has come to symbolize elite dialogue on globalization and sustainability. In recent years, however, the Forum has faced criticism from across the political spectrum for being out of touch with everyday concerns.
The WEF stated that it will implement governance reforms to address issues identified during the investigation, aiming to reinforce transparency and accountability across its operations.
Klaus Schwab, Founder and E Chairman, WEF Picture by WEF
