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World Economic Forum (WEF) chief executive officer B\u00f8rge Brende is stepping down from his position after it emerged he had ties with convicted paedophile Jeffrey Epstein.<\/p>\n
A recent batch of documents in the Epstein files shows Brende arranging to meet the financier at the latter\u2019s home for dinner in New York in\u00a02018\u00a0and\u00a02019. The second of those meetings was planned just weeks before Epstein\u2019s arrest in the US on sex trafficking charges. He died in jail in August that year.<\/p>\n
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The WEF said earlier this month it had opened a\u00a0probe\u00a0into Brende and his relations with Epstein.<\/p>\n
\nThe former Norwegian foreign minister said at the time he was \u201ccompletely unaware of Epstein\u2019s past and criminal activities,\u201d though he admitted he should have been more thorough.<\/p>\n<\/blockquote>\n
The WEF investigation has now concluded, the forum\u2019s co-chairs, Andre Hoffmann and Larry Fink, said in a\u00a0statement\u00a0on Thursday, adding that the findings show \u201cthere were no additional concerns beyond what has been previously disclosed\u201d.<\/p>\n
The CEO role at the WEF is more an operational position, and\u00a0separate\u00a0from the high-profile chair position that was long held by founder Klaus Schwab.<\/p>\n
In the statement on Thursday, Brende said he was stepping down \u201cafter careful consideration,\u201d though he made no mention of Epstein or the investigation. He held the role for more than eight years.<\/p>\n
Swiss businessman Alois Zwinggi will serve as interim chief and president while the WEF searches for a permanent successor.<\/p>\n
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The WEF is best known for its annual high profile gathering in the Swiss mountain town of Davos.<\/p>\n
A year of turmoil for the WEF<\/strong><\/p>\n
The resignation adds to the turmoil it has experienced over the past year.<\/p>\n
Read: Carney shares a cold, hard truth: The world was unfair before Trump<\/p>\n
Schwab left in April amid accusations of financial misconduct and a clash with the remaining leadership. He was eventually\u00a0cleared, but only after a months\u2019 long investigation that hung over the organisation.<\/p>\n
Schwab\u2019s sudden exit also appeared to have scuppered his\u00a0plan\u00a0to have European Central Bank President Christine Lagarde succeed as chair, though speculation about such a move hasn\u2019t entirely gone away.<\/p>\n
Read: Early Lagarde exit set to narrow field in race to lead ECB<\/p>\n
In the meantime, Fink and Hoffman have taken over. They were initially described as \u201cinterim\u201d co-chairs, including in statements issued during January, though the latest release didn\u2019t include that word.<\/p>\n
Brende not the first Norwegian with Epstein links<\/strong><\/p>\n
Brende acted as a central figure at the latest WEF meeting in January, greeting Elon Musk and participating in the forum\u2019s press conference ahead of the event.<\/p>\n
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He\u2019s not the first high-profile Norwegian facing repercussions from the Epstein files released by the US Department of Justice.<\/p>\n
\nRevelations about former prime minister Thorbj\u00f8rn Jagland and diplomat Terje R\u00f8d-Larsen, as well as Crown Princess Mette-Marit, have caused public outcry in Norway.<\/p>\n<\/blockquote>\n
Epstein also appeared to have used Davos for his own ends.<\/p>\n
While there are no details on whether he went to the event, correspondence shows he offered to help his contacts, promising to set up meetings with big-name attendees from the worlds of business and politics.<\/p>\n
\nAmong the names that have appeared in Epstein\u2019s Davos emails are Emirati billionaire Sultan Ahmed bin Sulayem, Bill Gates and Larry Summers.<\/p>\n<\/blockquote>\n
Bin Sulayem quit his position as CEO of DP World, one of the world\u2019s largest logistics firms, after his ties to Epstein were exposed.<\/p>\n
With respect to Brende, the Epstein files reveal various exchanges between Epstein and Brende, one of which Brende signs off saying: \u201cMissing you Sir, Borge.\u201d<\/p>\n
\u00a9\u00a02026\u00a0Bloomberg L.P.<\/p>\n
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