KLAUS DID NOTHING WRONG - NEW BOSS OF W.E.F APPOINTED LARY FINK
WEF clears founder Schwab of wrongdoing; appoints interim co-chairs
By Mrinmay Dey
August 15, 20259:08 PM GMT+1Updated 18 hours ago
https://www.reuters.com/business/wef-clears-founder-schwab-wrongdoing-appoints-interim-co-chairs-2025-08-15/
--
Summary
Companies
World Economic Forum clears founder Klaus Schwab of 'material wrongdoing' after probe
Larry Fink and Andre Hoffmann named interim co-chairs of WEF
Whistleblower letter had alleged misconduct
Aug 15 (Reuters) - The World Economic Forum closed an investigation on its founder Klaus Schwab on Friday, clearing him of any wrongdoing, and appointed BlackRock (BLK.N), opens new tab CEO Larry Fink and Roche Holding's (ROG.S), opens new tab vice-chair Andre Hoffmann as interim co-chairs of its board.
The Geneva-based organisation had launched an investigation in April into 87-year-old Schwab following a whistleblower letter alleging misconduct.
Get a daily digest of breaking business news straight to your inbox with the Reuters Business newsletter. Sign up here.
The probe was announced a day after Schwab resigned as chairman. The forum at that time did not say why he was quitting.
For decades, Schwab has been the face of the WEF's annual gathering of business and political leaders in the Swiss mountain resort of Davos, which has become a symbol of globalisation.
The WEF said on Friday that its board had completed an investigation into allegations raised by anonymous whistleblowers against Schwab and found there was no evidence of material wrongdoing by him.