The WSJ article also repeated accusations of discrimination, sexual harassment and nepotism within the organization, points already mentioned in a WSJ’s article about a year ago. See this.
The Board opened an immediate investigation into these allegations. Schwab said he would take legal action against the WSJ and decided – or was told – to resign immediately from the Board’s chairmanship. He stepped back last year as President and CEO of the WEF, but assumed the Chair for the Board of Trustees with a timeline through 2027. This timeline was cut short by the whistleblower and the WSJ article.
Other WEF executives, especially the Schwab’s children, also exited following a board probe into workplace culture, a topic that has plagued the WEF for years, but came to the fore the first time a year ago.
With immediate effect the Board decided on an interim replacement for Klaus Schwab, a former longtime President and CEO of Nestlé, Peter Brabeck-Letmathe. He was CEO and chairman of the Nestlé Group from 1997 to 2008. Brabeck was deputy chair of the WEF’s Board of Trustees.
India is a case in point, where GMO seeds were sold without telling the farmers that the plants’ seeds could not reproduce, i.e., could not be used for next year’s harvest. When the farmers realized, they could not afford buying every year GMO seeds, thousands committed suicide, as they were unable to maintain and feed their families.
Nestlé under Mr. Brabeck was also at the forefront of a scandal about powdered milk that should replace breastfeeding.
Nestlé especially targeted Africa, where the product was introduced against healthy common breastfeeding habits. As we also know in the west, breastfeeding provides babies and children with a basic, strong immune system, which powdered milk for infants does not.
In addition, rising prices of Nestlé’s powdered milk made that women could no longer afford it, and since they did not start with breastfeeding, they did not produce breast milk. With the combination of unnatural powdered milk, lack of breastmilk and the natural immune system, many babies got sick and often died.
See this for more details (watch below):
Mr. Brabeck is known for his anti-human and anti-Human Rights stance on many issues growing to ever-more importance in the current geo-political and economic environment we are living.
Mr. Brabeck certainly does not make the WEF a better place. Perhaps to the contrary. For sure, a number of investigations – WEF internals and externals – and lawsuits are already ongoing or pending.
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