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The World Economic Forum, which hosts the elite business conference in Davos, Switzerland, said the investigation failed to demonstrate allegations of workplace discrimination and harassment brought by employees, but the organization failed to meet “established standards.”
An external lawyer hired by the World Economic Forum said “didn’t believe the Forum committed a legal violation,” and “an allegation of misconduct against founder Klaus Schwab” and “did not demonstrate,” according to a summary of the investigation sent to WEF’s biggest sponsor on Thursday.
However, the email sent by Schwab’s successor as WEF’s CEO Børge Brende said the board committee overseeing the investigation had identified “leadership and management issues.” . . It doesn’t meet our established standards,” he said, and committed to strengthening “the commitment to a workplace where every employee feels valued and respected.”
WEF has committed to introducing additional training for managers and introducing mental health resources to staff.
Schwab stopped as an executive chair last year after helming the organization for over half a century, turning its annual meeting in Davos into an outstanding meeting for global business leaders and policymakers. He currently serves as chairman of the WEF board of directors.
Shortly after his resignation was announced, the Wall Street Journal released accusations of discrimination and harassment committed by several black and female employees against Schwab and other managers. One employee sued WEF in a New York court, alleging that she was denied professional opportunities because of her race and gender.
The organization and Schwab denied all claims, and WEF resolved the New York case earlier this month earlier this month, according to court records.
A WEF spokesman declined to say that the board’s investigation had identified leadership issues.
In his message, Blend said WEF is “reviewing and strengthening” its code of conduct and will expand its employee mental health resources. There is also “work culture and implementation training for all forum employees,” he said, and the organization will add training to managers and other leaders.
This review was conducted by law firm Covington & Burling and Homburger in Switzerland.
