By MINRMAY DEY

(Reuters) – The World Economic Forum (FEM) ended an investigation on its founder on Friday, Klaus Schwab, the exonerate of any reprehensible act, and appointed Larry Fink, CEO of Blackrock, and André Hoffmann, vice -president of Roche Holding, interim co -president of his board of directors.

Klaus Schwab, 87, resigned in April with immediate effect of his post as president of FEM, which brings together the global financial and political elite each year in the end of January in Davos, Switzerland.

The forum then announced an investigation targeting the manager after receiving a letter from a whistleblower accusing him of having mixed his personal belongings with those of the organization.

The board of directors carried out an investigation into the accusations made against Klaus Schwab which has not revealed any evidence of a reprehensible act on its part, said the FEM.

The Davos forum said that he also noticed a fault on the part of the wife and former assistant of its founder, Hilde Schwab.

“Minor irregularities, coming from blurred lines between personal contributions and forum operations, reflect a deep commitment rather than an intention of bad conduct,” said the FEM.

In May, a spokesperson for Klaus Schwab informed Reuters that he had filed a criminal complaint against the whistleblower.

The Schwab family denied all accusations.

At the end of the investigation, a spokesperson for Klaus Schwab told the Wall Street Journal on Friday that he intended to give up his prosecution against the forum and against the whistleblower.

Peter Brabeck-Letmathe resigned from his post as acting president following the conclusion of the investigation, added the FEM.

(Written by Mrinmay Dey in Bangalore, Kate Entringer)

Copyright © 2025 Thomson Reuters