The accusations reportedly prompted Schwab to step down from his role as chairman at the WEF — a non-profit best known for its annual gathering of global elites in Davos, Switzerland — after more than half a century at its helm.
In April, the WEF confirmed the existence of the whistleblower letter — first reported by the Wall Street Journal — and said it had launched an internal investigation, while stressing that the misconduct allegations “remain unproven.”
Schwab has denied the accusations and filed a criminal complaint against the whistleblowers. The WEF did not immediately respond to POLITICO’s request for comment.
SonntagsZeitung reported that the probe’s preliminary findings indicate that Schwab’s alleged wrongdoing could include meddling with the Global Competitiveness Report — a now-defunct yearly publication that assessed and ranked countries based on their economic competitiveness. The competitiveness report was discontinued during the Covid-19 pandemic.
Official documents cited by SonntagsZeitung allege that Schwab intervened multiple times to alter or suppress unfavorable rankings for certain countries, particularly in the Middle East and North Africa and in India, allegedly to preserve diplomatic relations or avoid political fallout. In one instance, Schwab reportedly recommended shelving a negative report after discussing it with a government official, according to the newspaper.
The investigation also reportedly concerns up to 900,000 Swiss francs in expenses filed by Schwab and his wife, Hilde.
