The founder quit after the board moved to investigate whistleblower allegations, which he denies, including use of luxury property and travel.

The World Economic Forum says its founder Klaus Schwab is retiring as chairman. The announcement on Monday comes more than a half-century after Schwab, 87, created the Geneva-based think tank that is best known for hosting an annual meeting of political,

Klaus Schwab resigned as chair of the World Economic Forum after a whistleblower letter triggered an investigation into alleged financial misconduct and abuse of power by him and his wife.