Geneva, Switzerland, 15 August 2025 – The Board of Trustees of the World Economic Forum has concluded a comprehensive investigation of allegations raised by anonymous whistleblowers. In line with our commitment to transparency and integrity, the Board commissioned a reputable and independent law firm to conduct the investigation, ensuring a detailed, fact-based and impartial process.
Following a thorough review of all facts, the Board has concluded that, while the organization must evolve toward a more institutional model, there is no evidence of material wrongdoing by Klaus Schwab. Nor is there any evidence of any misconduct by Hilde Schwab, who has supported the Forum for over five decades without any remuneration. Minor irregularities, stemming from blurred lines between personal contributions and Forum operations, reflect deep commitment rather than intent of misconduct. The Board has taken action to address all issues identified throughout the investigation, including strengthening the governance in general.
The Board also has taken note that, in certain instances, some employees of the Forum have expressed the views of not having been treated to their satisfaction. The Board is taking these matters very seriously and it expresses its deep regret that those situations have arisen. Here again, measures have been taken and implemented, securing that the principles of integrity, respect and responsible behavior are strictly followed at all levels of our organization. This is a cornerstone of our Code of Conduct, and we strive to comply with these important principles at all times.
The Board deeply regrets the public scrutiny that preceded the completion of the investigation, and the undue pressure this has placed on Klaus and Hilde Schwab. With the facts now clearly established, we will move forward with clarity, stronger governance and renewed focus on our mission.
With the completion of the investigation, Peter Brabeck-Letmathe has stepped down from his role as interim Chairman. The Board thanks Peter for his invaluable contributions to the World Economic Forum during his 30 years of membership at the Board of Trustees and for his strong leadership and steady guidance throughout the investigation period. The Board of Trustees has selected André Hoffmann and Larry Fink as the interim Co-Chairs of the World Economic Forum.
This moment marks a pivotal transition for the World Economic Forum. The Board will now focus its attention on institutionalizing the Forum as a resilient International Organization for Public-Private Cooperation. This next chapter will be guided by the original mission developed by Klaus Schwab: Bringing together government, business and civil society to improve the state of the world.
To that end, the Board is committed to further strengthening the Forum’s governance, reinforcing its core values as an impartial and trusted platform for global cooperation, and accelerating its strategic efforts to enhance the impact of global collaboration for a better future.
We remain steadfast in our dedication to the Forum’s mission and to the principles that have guided its work for over five decades.
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The World Economic Forum, committed to improving the state of the world, is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business and other leaders of society to shape global, regional and industry agendas. (www.weforum.org).