World Economic Forum investigates accusations against founder Klaus Schwab

The World Economic Forum, the organization behind the annual meeting of world leaders in Davos, Switzerland, investigates accusations of incorrect behavior by the founder, Klaus Schwab.

The board of the World Economic Forum opened an investigation into Mr Schwab in April after receiving a letter, anonymously attributed to current and former employees, and claimed that he wrongly used the funds of the organization and described the comments that according to the letter women had made uncomfortable, two people with knowledge of the matter. People asked for anonymity because details of the letter remain confidential.

Mr. Schwab, 87, resigned last month as chairman of the board. He had no immediate comments. He told the Wall Street Journal, who Previously reported The whistleblower letter and the investigation, which he denied all allegations and that the board had responded exaggerated in ordering the investigation.

“In response to a whistleblower letter with regard to former chairman Klaus Schwab, the Board of Directors unanimously decided to initiate an independent internal investigation,” said Yann Zopf, who leads media for the forum, in a statement on Wednesday. ‘After consultation with external legal adviser, the board concluded that a thorough and objective investigation was the correct way of acting. “

Mr Schwab, a German economist, founded the World Economic Forum in 1971 to promote the idea that companies can play an integral role in promoting social causes. It is best known for its January conference, where thousands of managers and policy makers descend on the Swiss Alps to make big promises of everything from diversity Unpleasant climate change.

More often known as Davos, for its location, the conference has become a target of criticism in recent years, aimed at whether the statements of the head and ambitious goals produce a meaningful change. Many of these commitments – such as obligations to globalism, diversity and inclusion – were weakened this year In the aftermath of the election of President Trump.

Nevertheless, Davos retains meaning for managers who largely use it as a business conference to help determine the agenda for the year. The powerful administration reflects its influence, with members, including Chief Executives such as Laurence D. Fink van Blackrock and Marc Benioff from Salesforce, as well as the cellist Yo-Yo Ma and Christine Lagarde, president of the European Central Bank.

It is unclear what the tumult will mean at World Economic Forum for the conference or her sponsors, including Amazon, Bank of America and Chevron. The board said in April that the Peter Brabeck-Letathe, a former Chief Executive of Nestlé, had appointed interim chairman, while it is looking for a permanent successor to Mr Schwab.