World Economic Forum chief Borge Brende steps down over Epstein ties

The chief executive of the World Economic Forum (WEF), Borge Brende, has announced he is stepping down following an independent review into his past interactions with convicted sex offender Jeffrey Epstein.

Brende said on Thursday (February 26) that he had decided to leave his post after “careful consideration”, ending an eight-and-a-half-year tenure at the Geneva-based global policy forum.

“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,” he said in a statement.

‘WEF can continue its work without distractions’

While Brende did not mention Epstein directly in his resignation note, he acknowledged that it was time for the organisation to move forward without controversy.

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“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,” he added.

Independent review

The development comes after disclosures from the US Justice Department revealed that Brende had three business dinners with Epstein and had communicated with him via email and text messages. The WEF earlier this month launched an independent investigation to clarify the nature of those interactions.

“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 in a prior statement, stressing its commitment to transparency and integrity.

According to a separate statement from WEF co-chairs André Hoffmann and Larry Fink, the independent review conducted by outside counsel has now concluded. The findings, they said, did not identify any additional concerns beyond what had already been disclosed publicly.

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The co-chairs did not indicate that Brende’s departure was mandated by the review’s conclusions, but confirmed that the leadership transition would take immediate effect.

Alois Zwinggi will serve as interim president and CEO, while the Forum’s Board of Trustees oversees the transition and begins the process of identifying a permanent successor, the statement said.

Brende, a former Norwegian foreign minister and senior figure in Norway’s government, joined the WEF in 2017. During his tenure, he steered the organisation through significant global disruptions, including the Covid-19 pandemic and rising geopolitical tensions.

Succession process

The WEF, best known for its annual meeting in Davos that brings together political leaders, business executives, and civil society representatives, has faced growing scrutiny in recent years over governance and transparency. The launch of an independent probe into its top executive marked an unusual step for the organisation.

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In its earlier statement, the Forum said the decision to commission outside counsel “underscores the Forum’s commitment to transparency and maintaining its integrity”.

Brende’s departure now closes a chapter for the global body as it seeks to move beyond the controversy and stabilise its leadership. The Board of Trustees is expected to outline next steps for the succession process in the coming weeks.