The head of the World Economic Forum has stepped down following criticism over past interactions with disgraced financier Jeffrey Epstein.
Børge Brende announced he would resign as president and chief executive after more than eight years leading the organization, which is widely known for hosting its annual global gathering in Davos, Switzerland.
Brende acknowledged that he had dined with Epstein on three occasions between 2018 and 2019. The revelation prompted renewed scrutiny and criticism, ultimately leading to his decision to step aside.
In a statement, Brende said it was the right time to step down after overseeing significant initiatives and expansion during his tenure. He did not indicate that the meetings involved any official partnership but accepted that the associations had become a distraction for the organization.
The World Economic Forum, a platform that convenes political leaders, business executives and civil society figures to address global economic and policy challenges, has faced periodic criticism over transparency and elite networking. The latest development places additional pressure on its leadership and governance practices.
Epstein, who was convicted of sex offenses and faced further federal charges before his death in 2019, had cultivated relationships with prominent figures in business, academia and politics. Associations with him have continued to carry reputational consequences for individuals and institutions in the years since.
Brende, a former Norwegian foreign minister, had led the WEF since 2017. During his tenure, the forum expanded its focus on climate policy, digital transformation and geopolitical risk, while navigating the disruptions of the COVID-19 pandemic and heightened global tensions.
The resignation marks a significant leadership change for the organization at a time of complex global economic and political uncertainty. The WEF is expected to initiate a process to appoint a successor as it prepares for future annual meetings and strategic initiatives.
Botswana projects economic rebound but debt set to breach legal limit
