On 15 August 2025, the WEF’s Board of Trustees announced that its internal investigation found no evidence of material wrongdoing by founder Klaus Schwab or his wife Hilde Schwab. The Board acknowledged “minor irregularities” stemming from blurred personal–Forum lines, pledged governance reforms, and named Larry Fink and André Hoffmann as interim co-chairs after Peter Brabeck-Letmathe stepped down.