WEF Clears Klaus Schwab of Wrongdoing, Installs Fink as Interim Co-Chair

The World Economic Forum said on 15 August that an internal investigation into founder Klaus Schwab uncovered only minor expense irregularities and found no material wrongdoing, according to statements cited by the Wall Street Journal and the Financial Times. The review was launched after whistle-blower allegations questioned Schwab’s use of forum funds. Trustees examined expense reports and related governance procedures before concluding the issues were immaterial and did not breach the organisation’s rules, the publications reported. Alongside the findings, the trustees named BlackRock Chief Executive Officer Larry Fink and Roche Vice-Chair André Hoffmann as interim co-chairs of the forum’s board. The appointments take effect immediately while the body undertakes a wider governance transition. The WEF did not detail Schwab’s future responsibilities but said the leadership changes aim to strengthen oversight as it prepares for its next annual meeting in Davos.