The World Economic Forum has been shaken by a leadership exit.
Borge Brende, President and CEO of the World Economic Forum, has stepped down following disclosures about past interactions with Jeffrey Epstein. Moreover, the resignation comes after an independent review into the matter was concluded.
The sudden move has drawn global attention, especially given the Forum’s influence in international business and politics. However, WEF leaders insist the transition is being handled with transparency and order.
At the center of the development is the WEF President resignation, which followed confirmation that Brende had attended three business dinners with Epstein. Emails and text messages were also exchanged between them, according to disclosures by the U.S. Justice Department.
In a statement released on Thursday, Brende said, “After careful consideration, I have decided to step down as President and CEO of the World Economic Forum. My time here, spanning 8-1/2 years, has been profoundly rewarding.”
Although he did not directly mention Epstein, he acknowledged the timing of his decision. “I am grateful for the incredible collaboration with my colleagues, partners, and constituents, and I believe now is the right moment for the Forum to continue its important work without distractions,” he said.
Meanwhile, the Forum confirmed that an independent investigation had been launched earlier this month. The review was conducted by outside legal counsel.
“In light of these interactions, the Governing Board requested the Audit and Risk Committee to look into the matter, which subsequently decided to initiate an independent review,” the WEF said in a statement.
Furthermore, the co-chairs stated that the review found no additional concerns beyond what had already been disclosed. This was emphasized to reassure stakeholders and partners.
“This decision underscores the Forum’s commitment to transparency and maintaining its integrity,” the organization added.
Andre Hoffmann and Larry Fink, co-chairs of the WEF, announced that Alois Zwinggi will serve as interim president and CEO. In addition, the Board of Trustees will oversee the leadership transition process. A permanent successor is expected to be identified in due course.
