American and global leaders gathered in Davos, Switzerland, recently for the World Economic Forum (WEF). At this event, Børge Brende, the WEF president and CEO, interviewed U.S. President Donald Trump following his speech. However, Brende’s tenure has come under scrutiny amidst findings related to the notorious Jeffrey Epstein.
Brende Resigns Amid Epstein Investigation
On Thursday, Brende announced his resignation after an independent investigation linked him to Epstein. This inquiry began when it was revealed that Brende had attended several dinners with the late financier in 2018 and 2019. One of these gatherings occurred at Epstein’s home in New York, just weeks before his arrest on federal charges of child sex trafficking.
Background on Epstein
- In 2008, Jeffrey Epstein pleaded guilty to soliciting sex from a minor.
- He was sentenced to 18 months in prison.
- Epstein’s criminal activities had been previously unknown to many, including Brende.
Brende stated that he had “no awareness” of Epstein’s background when he attended these events. He acknowledged that he should have scrutinized Epstein’s history more closely and expressed regret for not doing so. Despite no evidence of wrongdoing on his part, Brende’s departure comes as part of a larger trend of high-profile leaders distancing themselves from Epstein’s legacy.
Impact on Business Leaders
The ramifications of the Epstein files have been widespread. Prominent individuals like Tom Pritzker, Kathy Ruemmler, and Sultan Ahmed bin Sulayem have also faced career consequences. This wave of resignations can be traced back to the Justice Department’s release of various Epstein-related documents since December of last year.
- Leon Black, CEO of Apollo Global Management, resigned in 2021.
- Barclays CEO Jes Staley also stepped down due to his connections with Epstein.
Leadership Transition at the WEF
The WEF has appointed Alois Zwinggi as interim president and CEO while searching for a permanent successor. Co-chairs Larry Fink and Andre Hoffmann expressed gratitude for Brende’s contributions during his 8½ years at the helm.
Brende’s departure follows the resignation of the WEF founding chairman, Klaus Schwab, who stepped down amid whistleblower allegations of misconduct. However, an investigation in August cleared Schwab of any material wrongdoing.
The fallout from the Epstein files continues to reshape leadership landscapes in various industries and institutions. As the WEF moves forward, the implications of Brende’s resignation highlight the far-reaching impact of Epstein’s controversial legacy.
