Schwab, 87, is said to have argued against the board’s plan for an investigation, before he resigned. The founder had indicaated he intended to step down in early April, but the whistleblower letter brought forward his exit. The letter also accused Schwab of manipulating the WEF global competitiveness report in order to curry favour with certain governments. The WEF board of trustees has appointed the former Nestlé chief executive Peter Brabeck-Letmathe as interim chair, but is searching for a permanent replacement. Schwab’s resignation marks the end of a 54-year career at the top of the WEF, and follows a previous board investigation into its workplace culture.

Source: The Guardian April 24, 2025 20:04 UTC