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The World Economic Forum, which hosts the elite business conference in Davos, Switzerland, said an investigation had failed to substantiate claims of workplace discrimination and harassment raised by employees, but that the organisation had failed to meet “established standards”.
External lawyers hired by the World Economic Forum “did not find the forum had committed any legal violations” and “did not substantiate” allegations of misconduct against founder Klaus Schwab, according to a summary of the investigation sent to some of the WEF’s biggest sponsors on Thursday.
But the emailed message, sent by Schwab’s successor as WEF chief executive Børge Brende, said a board committee overseeing the investigation had identified “leadership and management issues . . . that do not meet our established standards” and promised to reinforce “our commitment to a workplace where all employees feel valued and respected”.
The WEF promised to introduce extra training for managers and mental health resources for staff.
Schwab stood down last year after more than half a century at the helm of the organisation, having turned its annual meeting in Davos into the pre-eminent conference for global business leaders and policymakers.
Shortly after his resignation was announced, The Wall Street Journal published accusations of discrimination and harassment made by several Black and female employees against Schwab and other managers. One employee sued the WEF in a New York court alleging she was denied professional opportunities because of her race and gender.
The organisation and Schwab denied all the claims, and the WEF settled the New York lawsuit on undisclosed terms earlier this month, according to court records.
A WEF spokesperson declined to say what leadership issues had been identified by the board’s investigation, or to expand on Brende’s email to Davos sponsors.
In his message, Brende said that WEF was “reviewing and enhancing” its code of conduct and would expand mental health resources for employees. There would also be “workplace culture and conduct trainings for all forum employees”, he said, and the organisation would add training for managers and other leaders.
The review was conducted by the law firms Covington & Burling of the US and Homburger of Switzerland.
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