WEF Clears Klaus Schwab of Wrongdoing

The World Economic Forum concluded an investigation into founder Klaus Schwab and found no evidence of misconduct. The investigation began after a whistleblower letter spurred Schwab’s resignation as chairman. Larry Fink and André Hoffmann have been appointed as interim co-chairs of the WEF board.

The World Economic Forum announced Friday that an investigation into allegations against its founder, Klaus Schwab, has been concluded, clearing him of any material wrongdoing.

The inquiry was initiated in April after a whistleblower letter claimed misconduct by Schwab, who shortly thereafter resigned as chairman without providing a reason.

As the WEF moves forward, it has named BlackRock CEO Larry Fink and Roche Holding's Vice-Chair André Hoffmann as interim co-chairs of its board, steering the organization during this transitional period.

(With inputs from agencies.)