In his Aug. 12 resignation letter, Brabeck-Letmathe said he had personally witnessed a “toxic work environment” for several months and that the only way to move forward was for the board to seek an “amicable agreement” with Schwab to resolve the dispute. Brabeck-Letmathe has served for years on the Forum’s board.

The World Economic Forum has cleared Klaus Schwab of “material wrongdoing” after a law firm conducted a review into potential misconduct of the institution’s founder. The body also said Blackrock Inc.

BlackRock Inc. (BLK) co-founder and CEO Larry Fink and Roche’s vice chairman André Hoffman have been named as the interim co-chairs of the World Economic Forum. The Switzerland-based international advocacy non-governmental organization and think tank also cleared its founder,