World Economic Forum CEO Borge Brende quits after Epstein ties scrutinised

[ZURICH] The president and CEO of the World Economic Forum (WEF), Borge Brende, said he was stepping down on Thursday (Feb 26), a few weeks after the forum launched an independent investigation into his relationship with sex offender Jeffrey Epstein.

Brende, who became president of the WEF in 2017, announced his decision in a statement following disclosures from the US Justice Department that showed the Norwegian had three business dinners with Epstein and had also communicated with the disgraced financier via email and text message.

“After careful consideration, I have decided to step down as President and CEO of the World Economic Forum. My time here, spanning 8½ years, has been profoundly rewarding,” Brende said. The statement made no mention of Epstein.

“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,” added Brende, a former Norwegian foreign minister.

Brende has said he was unaware of Epstein’s past and criminal activities before first meeting him in 2018, and that he regretted not having investigated him more thoroughly.

Brende’s decision to quit follows a series of revelations relating to Epstein, who in 2008 was convicted of soliciting prostitution from a minor. The revelations have roiled business and political elites, and even the British royal family.

Independent review

In a separate statement, Andre Hoffmann and Larry Fink, co-chairs of the Geneva-based forum that organises the annual Davos summit, said the independent review conducted by outside counsel into Brende’s ties with Epstein had concluded.

The findings stated there were no additional concerns beyond what has been previously disclosed, it added.

The co-chairs said the WEF’s Alois Zwinggi will serve as interim president and CEO, and that the forum’s Board of Trustees will oversee the leadership transition, including a plan to drive a process to identify a permanent successor.

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The US Justice Department has released more than three million pages of documents relating to Epstein, who died by suicide in jail in 2019 while awaiting trial on federal sex-trafficking charges.

His ties to a long list of business and political leaders, including US President Donald Trump, former President bill Clinton and Tesla CEO Elon Musk are under close scrutiny.

Overseas, the revelations have prompted criminal investigations of Britain’s Andrew Mountbatten-Windsor, the former Duke of York, and other prominent figures. REUTERS