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The head of the World Economic Forum (WEF) stepped down on Thursday after the organisation opened an internal probe into his past contacts with disgraced financier and convicted sex offender Jeffrey Epstein.
Børge Brende, the WEF’s president and chief executive, announced he was stepping down after more than eight years in the role, saying the decision followed “careful consideration”.
“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.
Probe follows new Epstein document release
The WEF launched its investigation earlier this month after the US Department of Justice released a large tranche of files linked to Epstein, which drew fresh scrutiny across global business and political circles.
Over the years, numerous high-profile figures — including prominent business figures, politicians and royalty — have appeared in Epstein’s email exchanges, contact books, flight logs or other records. In many cases, those named have publicly denied wrongdoing.
The forum did not detail the nature of Brende’s contacts with Epstein.
Leadership transition at Davos
In a joint statement, WEF co-chairs André Hoffmann and Larry Fink thanked Brende for his tenure.
“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 serve as interim president and chief executive while the board manages the leadership transition, WEF said.
The investigation is understood to have complicated succession planning at the Geneva-based forum.
European Central Bank President Christine Lagarde has widely been seen as a potential future chair following the departure of WEF founder Klaus Schwab last year.
Brende, Norway’s former foreign minister, has led the WEF since 2017, overseeing the organisation through the pandemic period and a series of internal governance reforms.
The forum has not indicated when the review into Brende’s Epstein links will continue following his resignation.
Being named in Epstein-related files does not in itself imply wrongdoing.