President and CEO of the World Economic Forum (WEF), Børge Brende, has announced on February 26, that he is stepping down from his role.

Brende’s resignation follows WEF’s recent launch of an independent investigation into his relationship with the late U.S. sex offender Jeffrey Epstein. According to the statement, “The independent review conducted by outside counsel has concluded. The findings stated that there were no additional concerns beyond what has been previously disclosed.”

In a statement, Brende said, “After careful consideration, I have decided to step down as President and CEO of the World Economic Forum. My time here, spanning 8½ years, has been profoundly rewarding. We have seen a record number of partners join us, and we have had a very successful Annual Meeting in Davos behind us, where we engaged with governmental leaders from all over the world like never before.”

Brende, who previously served as Norway’s foreign minister, expressed gratitude for what he described as “incredible” collaboration with colleagues, partners, and stakeholders.

“I believe now is the right moment for the Forum to continue its important work without distractions,” he added. “I extend my deepest thanks to the Co-Chairs, André Hoffmann and Larry Fink, for their unwavering support and partnership. I am proud of our shared achievements and look forward to the Forum’s future successes under the leadership of my colleague, Alois Zwinggi, as Interim President and CEO.”

In a joint statement issued on behalf of the Board of Trustees, Co-Chairs André Hoffmann and Larry Fink said, “We wish to express our sincere appreciation for Børge Brende’s significant contributions to the World Economic Forum. His dedication and leadership have been instrumental during a pivotal period of reforms for the organization, leading to a successful annual meeting in Davos. We respect his decision to step down.”

The Co-Chairs added that they look forward to working with Zwinggi in his capacity as Interim President and CEO. The Board of Trustees will oversee the leadership transition and initiate a formal process to identify a permanent successor.

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