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World Economic Forum Clears Founder Klaus Schwab and Names Fink as Co-Chair

After a thorough probe, Klaus Schwab and his wife were cleared of misconduct; the forum named Larry Fink and Andre Hoffmann as interim co-chairs to strengthen governance.

  • The World Economic Forum announced on Friday it cleared Klaus Schwab and Hilde Schwab of misconduct and appointed Larry Fink and Andre Hoffmann as interim co-chairs.
  • A whistleblower letter in April this year alleged financial impropriety and behavioral issues by Schwab, prompting the WEF to launch an investigation shortly after his resignation.
  • The WEF said “minor irregularities” stemmed from blurred lines between personal contributions and Forum operations, reflecting deep commitment rather than misconduct, according to their assessment.
  • The WEF board pledged to address all issues and strengthen governance, with Peter Brabeck-Letmathe stepping down as interim chairman, and Fink and Hoffmann expressing optimism about reinvention.
  • Calling it a new chapter, the WEF board described efforts to institutionalize the Forum as a resilient international organization for public-private cooperation.
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Allegations from an anonymous source preceded the resignation of WEF CEO Klaus Schwab. Now the 87-year-old is relieved by a law firm. Meanwhile, the World Economic Forum designates high-calibre successors – and from 2027 the presidency is likely to be rebuilt.

·Dortmund, Germany
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UOL broke the news in Brazil on Friday, August 15, 2025.
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