Overview

• The WEF Board of Trustees has unanimously approved an independent investigation into whistleblower allegations against Klaus Schwab, led by the Audit and Risk Committee with external legal support.
• Schwab resigned effective immediately as WEF chair and board member on Monday, following claims of fund misuse, report manipulation, and improper staff directives.
• The whistleblower letter accuses Schwab of using WEF funds for personal expenses, including private massages, and alleges his wife, Hilde Schwab, misused WEF resources for luxury travel and private access to a WEF-owned property.
• The Schwab family has denied all allegations, labeling them as unsubstantiated and announcing plans to pursue legal action against the whistleblower and others spreading the claims.
• Peter Brabeck-Letmathe, former Nestlé CEO, has been appointed interim chair as the WEF navigates leadership transitions and reputational challenges.