After 8 and a half years in charge, Borge Brende has stepped down as President and CEO of the World Economic Forum (WEF).
His resignation comes after an investigation into his past interactions with late paedophile Jeffrey Epstein. Disclosures from the US Justice Department showed that Brende had three business dinners with Epstein and exchanged emails and text messages with him, NDTV reported.
"After careful consideration, I have decided to step down as President and CEO of the World Economic Forum. My time here, spanning 8-1/2 years, has been profoundly rewarding," Brende said on Thursday.
He did not mention Epstein in his statement. However, he added, "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."
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What the investigation found
Earlier this month, the WEF launched an independent review to clarify Brende's relationship with Epstein.
"In light of these interactions, the Governing Board requested the Audit and Risk Committee to look into the matter, which subsequently decided to initiate an independent review," the WEF said.
"This decision underscores the Forum's commitment to transparency and maintaining its integrity," it added.
Andre Hoffmann and Larry Fink, co-chairs of the WEF, said the outside counsel review has now concluded. They said there were no additional concerns beyond what had already been disclosed.
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Leadership transition at WEF
The co-chairs announced that Alois Zwinggi will serve as interim President and CEO. The Board of Trustees will oversee the transition and begin the process to identify a permanent successor, as per NDTV.
Brende previously held senior roles in Norway's government. His exit marks a major leadership change at the global forum.
