When Klaus Schwab told trustees of the World Economic Forum last month that he planned to “start the process of stepping down” from the organisation he founded 55 years ago, he reeled off a list of achievements.
The WEF’s annual winter meeting of political and business leaders in the Swiss ski resort of Davos had become a “global village” where common challenges could be addressed, making it “essential to avoid war”, he wrote in an email on April 1.
Schwab’s own “intellectual, political, economic and social contributions to the world” had been recognised with “international and national distinctions”, while “the small non-for-profit foundation” he had created was now an international body granted special status by Switzerland because of its role in the country.
“It is evident,” the 87-year-old said, “that I do not have to strive any more to create a legacy.”
Just a few weeks later, Schwab is working furiously to protect his legacy after a barrage of accusations prompted the WEF’s board of trustees to order its second probe into his conduct in less than a year.
Instead of an envisaged gradual handover lasting until January 2027, Schwab was forced out as chair at the end of April, and investigators are now picking over his financial relationship with the WEF after a whistleblower alleged he and his family received inappropriate financial benefits. Swiss law firm Homburger will lead the internal investigation.
“The process will be carried out thoroughly, diligently, and in a...
NEW HAVEN, Conn., June 18, 2025 /PRNewswire/ -- Wiggin and Dana is pleased to announce the launch of its new False Claims Act (FCA) Defense and Compliance Practice Group, created in response to a s...