(Reuters) – The World Economic Forum announced on Tuesday that it has launched an investigation into its founder, Klaus Schwab, following a whistleblower letter alleging misconduct by the former chairman.
The announcement came a day after the 87-year-old Schwab said he was resigning as chairman, effective immediately, without stating a reason.
The Wall Street Journal, which first reported the probe, said an anonymous letter sent last week to the WEF’s board raised concerns about its governance and workplace culture, including allegations that the Schwab family mixed their personal affairs with the forum’s resources without proper oversight.
The WEF “takes these allegations seriously, it emphasizes that they remain unproven, and will await the outcome of the investigation to comment further,” the forum said in an emailed statement to Reuters. It did not provide details on the allegations.
A spokesman for the Schwab family denied all the allegations in the whistleblower complaint, the Wall Street Journal reported. The spokesman also told the Journal that Klaus Schwab intends to file a lawsuit against whoever is behind the anonymous letter and “anybody who spreads these mistruths.”
Reuters could not immediately reach the Schwab family for comment.
The WEF’s Davos gathering in recent years has drawn criticism from both the left and the right as an elitist talking shop detached from the lives of ordinary people. It also has faced negative reports about its internal culture.
The Journal previously reported that the WEF’s board was working with a law firm to investigate the forum’s workplace culture, after the newspaper reported allegations of harassment and discrimination at the forum. The WEF denied those allegations.
(Reporting by Anusha Shah and Rishabh Jaiswal in Bengaluru; Writing by Mrinmay Dey in Bengaluru; Editing by Chris Reese and Leslie Adler)
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