World Economic Forum Board Supports Independent Investigation to Launch Founder Klaus Schwab

The World Economic Forum will hold its annual gathering in Davos, Switzerland, said its board of directors has unanimously supported the allegations of misconduct by founder Klaus Schwab. Later Tuesday, the Geneva-based think tank and event organizer’s statement was quoted by a whistleblower’s letter in a report published in the Wall Street Journal, accusing Schwab, 87, of financial and moral misconduct and his wife Hilde.

The allegations were an anonymous letter sent to the board last week, including claims that the Schwab family mixed their personal affairs with forum resources, the report said.

In a statement sent to the Associated Press, the forum said its board of directors — including former U.S. Vice President Al Gore, Queen of Jordan, and ECB President Christine Lagarde, as members, agreed to its risk and audit committee decision to open up the investigation.
“Although the forum takes these allegations seriously, it stresses that they are still unconfirmed and will await further comments on the results of the investigation,” the statement said.

The Associated Press was unable to arrive at Schwab or contact immediately for him.

The WEF announced that Schwab had alleged two days after he retired with the chairman’s “immediate effect” while former Nestlé chairman and CEO Peter Brabeck-Letmathe took over as interim chairman. For decades, the forum hosted top business executives, government leaders, academics, international organizations, cultural figures, sports legends and celebrities to discuss government policies, deals and current affairs. (AP)SCY SCY