An anonymous letter sent last week to the Board of Directors of a prestigious institution accused Klaus Schwab and his wife Hilde of “mixing their personal affairs with the Forum’s resources without proper oversight,” according to revelations today by the Wall Street Journal.
A spokesperson for Schwab, who was consulted by the daily, denied all these allegations.
The anonymous letter, reportedly sent by former and current employees, prompted an emergency meeting of the Board of Directors “on Easter Sunday,” as stated by the American daily.
During this meeting, Schwab “opted for an immediate resignation” from his position as Chairman of the Board of Directors, “rather than remaining during an extended transitional period, as previously planned,” adds the Wall Street Journal, citing unidentified sources.
The letter includes accusations that Schwab, the founder of the forum, which annually organizes a summit for political and economic elites in the luxurious Swiss ski resort of Davos, asked young employees to withdraw “thousands of dollars” from ATMs on his behalf and used the organization’s funds to pay for massages during hotel stays.
Contacted by AFP, the World Economic Forum (WEF) confirmed the launch of an internal investigation.
The Board of Directors “unanimously supported the decision of the audit committee and may initiate an investigation following a whistleblower’s letter containing allegations against former Chairman Klaus Schwab,” it declared in a statement.
The WEF emphasizes that while it “takes these allegations seriously,” they “are unproven” and thus will not make further comments pending the investigation’s outcome.
Klaus Schwab, 87, resigned on Monday with immediate effect, without explaining the reasons for his departure other than citing his age.
His spokesperson contested the accusations, explaining that Schwab intended to file a complaint against whomever was behind this anonymous letter or “anyone spreading these untruths.”
The expenses for massages during his travels were always reimbursed, the spokesperson added. Schwab also refuted accusations against him and his wife regarding luxury travel and cash withdrawals.
