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Klaus Schwab's Departure as World Economic Forum Chair: Implications for Global Economics



Klaus Schwab, founder of the World Economic Forum (WEF), has stepped down amid serious misconduct allegations. An anonymous whistleblower letter accused Schwab and his wife of misusing WEF funds for personal expenses, manipulating reports, and fostering a toxic workplace culture. In response, Schwab filed a criminal complaint for defamation and coercion against the whistleblowers. The WEF's board has initiated an independent investigation, appointing Peter Brabeck-Letmathe as interim chair. Schwab's departure marks the end of his 54-year leadership, leaving the WEF to navigate a critical transition while addressing governance and ethical concerns.


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