World Economic Forum launches probe into allegations against founder Klaus Schwab

GENEVA, April 23 (Xinhua) -- The World Economic Forum (WEF) has confirmed the launch of an independent investigation into allegations of misconduct against its former chairman, Klaus Schwab.

The WEF said Wednesday in a statement that its board "unanimously supported the Audit and Risk Committee's decision to initiate an independent investigation following a whistleblower letter containing allegations against former Chairman Klaus Schwab."

According to a report by the Wall Street Journal on Tuesday, a whistleblower letter was sent to the WEF board last week, alleging financial and ethical misconduct by Schwab and his wife. A spokesperson for Schwab denied all the allegations in the whistleblower letter, the newspaper said.

The WEF said in the statement that it takes the allegations seriously and stressed that they remain unproven. It will await the outcome of the investigation to comment further.

On Monday, the WEF announced the resignation of Schwab as chairman of the board and the appointment of Vice Chairman Peter Brabeck-Letmathe as interim chairman. A committee has also been established for the selection of a future chair. ■