Behind the Scenes at Davos, Claims of a Toxic Boss
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What is Davos and why is it significant?
Hey, it's Jess. Annie Minoff, one of our senior producers, is going to be stepping in to do some hosting this summer while Ryan is out on leave. Enjoy. Every year, a ski resort nestled in the Swiss Alps hosts the world's biggest party for the rich and powerful. Some people call it the Magic Mountain. Most people know it better as Davos.
So Davos is an alpine city in Switzerland. That's our colleague Shalini Ramachandran. It's the site of this annual meeting that brings together the planet's power brokers from like morning to past midnight. Meetings over coffee and cocktails and fondue and there are thousands of CEOs and billionaires.
You'll run into billionaire George Soros. His Majesty, King Abdullah II of Jordan.
queens and kings and presidents who descend on this place.
Send hello to everyone in beautiful Davos.
You know, you can run into Al Gore in the hotel bar or Bill Gates near the metal detectors or Sting in the elevator. And it's about networking and it's about making deals and talking about big ideas.
Over the years, the Davos Conference has taken on big topics. Peace in the Middle East, climate change, gender equality, And they've touted big wins. Organizers have taken credit for major diplomatic breakthroughs, including averting conflict between Greece and Turkey and bringing together the leaders of East and West Germany after the fall of the Berlin Wall.
To improve the state of the world. That was the tagline, you know, to make the world a better place.
But as Shalini discovered, there was a lot more happening behind the scenes. She and our colleagues have been investigating allegations of sexism, racism, and harassment at the organization that runs Davos, an organization called the World Economic Forum.
Based on our reporting, what they publicly stand for, things like gender equality and uplifting women, they're at odds with the way that a lot of people inside the World Economic Forum's own organization have been treated by senior bosses.
What controversies surround the World Economic Forum?
And now, after a fresh round of allegations, a major leadership shakeup is underway.
The World Economic Forum is now investigating its founder, the top boss, and now he's leaving under a cloud of suspicion and with allegations hanging over him.
Welcome to The Journal, our show about money, business, and power. I'm Annie Minoff. It's Wednesday, April 30th. Coming up on the show, the boardroom drama and leadership crisis, rocking Davos. The World Economic Forum, the nonprofit that runs the Davos Conference, has been around for more than half a century. Today, it has over 800 employees and takes in hundreds of millions of dollars, much of it from partner companies that pay big bucks to attend Davos. But the organization started small.
So, Klaus Schwab founded the World Economic Forum in 1971, and he started it as something called the European Management Forum.
At the time, Klaus Schwab was a German engineer and economist, broad-shouldered with glasses and a dour expression.
And he kind of experienced the post-World War II reconstruction timeframe, and he became a professor.
Schwab's time growing up in Europe after the war shaped his views on the power of global cooperation to rebuild economies. And that experience gave him a big idea.
So I felt I should create a platform where Europeans, business leaders, government leaders, could come together and talk about their future. That was the idea.
He loved this concept of a multi-stakeholder participation, which basically means governments and businesses and nonprofits work together to accomplish important goals. He believed that when these people work together, problems can be solved faster.
And so the Davos meeting was born. These days, it hosts 3,000 leaders from over 130 countries. And as Davos' importance increased, so too has Schwab's. Schwab is 87 now, and not exactly a household name. But his role at the top of the World Economic Forum has made him one of the best-connected people in the world, with a Rolodex that includes everyone from royals to rock stars.
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Chapters
7 chapters
1
What is Davos and why is it significant?
0:00–2:33
2
What controversies surround the World Economic Forum?
2:33–7:24
3
What allegations have emerged from the workplace at the Forum?
7:24
4
Who is Klaus Schwab and what is his role?
4:52–8:59
5
What dark side issues have been reported at the World Economic Forum?
8:59
6
What is the impact of the recent leadership changes?
4:01–5:34
7
How has the Forum's mission conflicted with its internal culture?
5:34–15:59