The World Economic Forum, which runs an annual gathering of global elites at Davos, Switzerland, has authorized an independent investigation into whistleblower allegations against its recently departed founder and chairman, Klaus Schwab.

Klaus Schwab, founder of the World Economic Forum, whose annual gathering of business and political leaders in the Swiss mountain resort of Davos became a symbol of globalisation, has resigned as chair of its trustees.

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,