Allegations Levied Against Klaus Schwab by World Economic Forum Deemed Unfounded
New Leaders Appointed at World Economic Forum Following Misconduct Investigation
After an internal investigation, the World Economic Forum (WEF) has appointed Larry Fink, CEO of BlackRock, and André Hoffmann, vice-chair of Roche Holding, as interim co-chairs of the WEF board. The decision comes following allegations of misconduct against Klaus Schwab, the founder of the WEF, which were found to be unfounded [1][2][4].
The investigation, conducted by the WEF, was prompted by whistleblower allegations of financial irregularities and a toxic work environment. These allegations led to the resignation of interim chair Peter Brabeck-Letmathe [4].
Klaus Schwab, who is 87 years old, will no longer hold any official position at the WEF. A law firm has concluded that Schwab has nothing to reproach himself for [4].
Schwab, who is set to publish a summary of his memoirs in September, will also release the first book of a planned series on the impact of artificial intelligence on humans in the same month [4].
Fink and Hoffmann have expressed their intention to shape a more resilient and prosperous future, and to reinvent and strengthen the WEF as an indispensable institution for cooperation between the public and private sectors [1][2]. They are committed to guiding the Forum during this pivotal time, focusing on cooperation among business, government, and civil society to promote prosperity and international collaboration [1][2].
The World Economic Forum, established by Schwab in 1971, is a platform for top politicians, managers, scientists, and representatives of civil society from around the world [3]. The Forum organizes the annual World Economic Forum in Davos, Switzerland, among other things [3].
Minor irregularities found in the investigation were attributed to unclear boundaries between personal contributions and forum activities, and were seen as a reflection of a strong commitment rather than an intention to act wrongly [4].
[1] Wall Street Journal, "World Economic Forum Names Interim Leaders as Klaus Schwab Steps Down Amid Misconduct Allegations," 1 August 2025.
[2] Reuters, "World Economic Forum appoints BlackRock's Larry Fink and Roche's Andre Hoffmann as interim co-chairs," 1 August 2025.
[3] World Economic Forum, "About us," [accessed 1 August 2025].
[4] World Economic Forum, "Investigation into misconduct allegations against Klaus Schwab concludes," 1 August 2025.
The policy-and-legislation implications of these changes at the World Economic Forum (WEF) remain to be seen, as the general news coverage centers around the appointment of Larry Fink and André Hoffmann as interim co-chairs following the misconduct investigation against Klaus Schwab.
In the world of politics and general news, the WEF is also committed to shaping a more resilient and prosperous future by reinventing and strengthening itself as an indispensable institution for cooperation between public and private sectors.
