WorldEconomicForum – CEO Borge Brende Steps Down After Review
WorldEconomicForum – Borge Brende has resigned as President and Chief Executive Officer of the World Economic Forum following scrutiny over his past interactions with the late financier Jeffrey Epstein. The announcement comes after an independent review examined previously disclosed meetings and communications between the two men.
Brende confirmed his decision on Thursday, bringing to an end more than eight years at the helm of the Geneva-based organization, which convenes political and business leaders annually in Davos.
Independent Review Concludes
The review was initiated after documents released by the US Justice Department revealed that Brende attended three business dinners with Epstein and had exchanged emails and text messages with him. The World Economic Forum’s Governing Board directed its Audit and Risk Committee to assess the matter, leading to the appointment of external legal counsel to conduct an independent investigation.
According to a statement issued by the Forum’s co-chairs, the review has now concluded. The findings determined that there were no further issues beyond the interactions that had already been made public. The organization said the process reflected its commitment to transparency and institutional integrity.
Brende did not directly reference Epstein in his resignation statement. However, he noted that he believed it was an appropriate moment for the Forum to continue its work without distraction.
Brende Reflects on His Tenure
In his remarks, Brende described his eight-and-a-half-year tenure as deeply meaningful. He expressed appreciation for colleagues, partners, and stakeholders who collaborated with him during his leadership.
Under Brende’s stewardship, the World Economic Forum expanded its initiatives on climate policy, digital transformation, and global economic resilience. The annual Davos meeting remained a central gathering point for heads of state, corporate executives, and civil society leaders.
Before joining the Forum, Brende served in several senior roles within Norway’s government, including positions related to foreign affairs and the environment. His background in public service helped shape the Forum’s engagement with policymakers worldwide.
Governance and Next Steps
Earlier this month, the Forum formally announced the launch of the independent inquiry into Brende’s relationship with Epstein. In a public statement at the time, the organization said the decision to conduct the review followed discussions within its Governing Board and was designed to clarify the nature of the interactions.
The co-chairs of the Forum, Andre Hoffmann and Larry Fink, confirmed that Alois Zwinggi will assume the role of interim President and CEO. Zwinggi has been closely involved with the organization’s operations and is expected to provide continuity during the transition.
The Board of Trustees will oversee the leadership change and initiate a process to identify a permanent successor. The Forum indicated that maintaining stability and safeguarding its reputation remain key priorities as it moves forward.
Focus on Institutional Integrity
The World Economic Forum emphasized that the decision to commission an independent legal review was taken to uphold governance standards. By concluding the review and announcing leadership changes, the organization aims to address concerns and reinforce confidence among its stakeholders.
While the findings did not identify additional issues beyond those already disclosed, Brende’s departure marks a significant moment for the institution. As the Forum prepares for its next annual meeting cycle, attention will now shift toward selecting new leadership and continuing its global policy agenda.
The leadership transition unfolds at a time when international organizations face heightened scrutiny over transparency and accountability. The Forum’s Board has indicated that it will manage the process carefully to ensure continuity in its mission of fostering dialogue on economic and social challenges.