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The
statement from the Geneva-based think tank and event organizer
late on Tuesday came after a report published in the Wall Street
Journal cited a whistleblower letter alleging financial and
ethical misconduct by Schwab, 87, and his wife Hilde.
The newspaper reported that the allegations were sent in an
anonymous letter to the board last week and included claims that
the Schwab family mixed their personal affairs with Forum
resources.
In a statement sent to The Associated Press, the Forum said its
board — which includes former U.S. Vice President Al Gore,
Jordan's Queen Rania and European Central Bank President
Christine Lagarde as members — agreed to a decision by its risk
and audit committee to open the probe.
“While the Forum takes these allegations seriously, it
emphasizes that they remain unproven, and will await the outcome
of the investigation to comment further,” the statement said.
The AP was not immediately able to reach Schwab or a contact
person for him.
The allegations emerged two days after the WEF announced Schwab
had retired “with immediate effect” as chairman, and that former
Nestle Chairman and CEO Peter Brabeck-Letmathe was taking over
as interim chairman.
For decades, the Forum’s annual gathering in Davos has hosted
top business executives, government leaders, academics,
international organizations, cultural figures, sports legends
and celebrities to discuss government policy, deal-making and
current affairs.
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