Børge Brende, the President and Chief Executive Officer of the World Economic Forum, has announced his departure amid an internal investigation launched by the organization over his ties to the disgraced financier Jeffrey Epstein.
On Thursday, February 26, Brende said he had decided to step down after more than eight years in the role, following what he described as “careful consideration.”
“I am grateful for the outstanding cooperation with colleagues, partners, and everyone who works with the Forum. I believe this is the right moment for the Forum to continue its important work without distractions,” his statement said.
The investigation was launched earlier this month after the US Department of Justice released millions of documents related to the late sex offender Epstein.
Forum co-chairs André Hoffmann and Larry Fink, commenting on the resignation, said: “We would like to express our sincere appreciation to Børge Brende for his significant contribution to the work of the World Economic Forum. His dedication and leadership played a pivotal role during a period of important organizational reforms and ensured the successful delivery of the Annual Meeting in Davos. We respect his decision to step down.”
The duties of President and Chief Executive Officer will be assumed on an interim basis by Alois Zwinggi, while the board of directors oversees the leadership transition.
According to sources, the investigation into Brende’s relationship with Epstein has disrupted succession plans for the Forum’s chairmanship. The position, vacated last year by WEF founder Klaus Schwab, had been expected to go to Christine Lagarde, the current President of the European Central Bank.