Geneva: World Economic Forum (WEF) President and Chief Executive Børge Brende stepped down on Thursday after the organization launched an internal investigation into his past contacts with convicted sex offender Jeffrey Epstein.
Brende, who has led the Geneva-based forum since 2017, said his decision followed “careful consideration” and was intended to allow the organization to continue its work without disruption.
“I am grateful for the incredible collaboration with my colleagues, partners, and constituents, and I believe now is the right moment for the Forum to continue its important work without distractions,” Brende said in a statement.
The internal review was initiated earlier this month after the US Department of Justice released a new batch of documents related to Epstein. The disclosures renewed global scrutiny of individuals whose names appeared in Epstein’s contact lists, emails, or flight records.
The WEF did not provide details about the nature of Brende’s reported contacts with Epstein. Being named in documents associated with Epstein does not, in itself, indicate wrongdoing.
Over the years, numerous high-profile figures from business, politics and other sectors have appeared in Epstein-related records. Many have publicly denied any misconduct.
In a joint statement, WEF co-chairs André Hoffmann and Larry Fink thanked Brende for his leadership.
“We wish to express our sincere appreciation for Børge Brende’s significant contributions to the World Economic Forum. His dedication and leadership have been instrumental during a pivotal period of reforms for the organisation, leading to a successful annual meeting in Davos. We respect his decision to step down,” they said.
Alois Zwinggi will assume the role of interim president and chief executive while the board oversees the leadership transition.
The investigation has added complexity to succession planning at the organization, which is known globally for hosting the annual Davos meeting of political and business leaders. European Central Bank President Christine Lagarde has been widely viewed as a potential future chair following the departure of WEF founder Klaus Schwab last year.
Brende, a former foreign minister of Norway, guided the WEF through the COVID-19 pandemic and a period of internal governance reforms.
The forum has not specified a timeline for the continuation or conclusion of the review into Brende’s alleged Epstein-related contacts.
