The World Economic Forum said on Monday that its founder Klaus Schwab has stepped down from the board. This turns a page in the history of the organization that hosts the annual meeting of wealthy, famous and influential global elites at the luxury Swiss ski resort of Davos.

Fresh claims follow allegations last year that the chair presided over a toxic workplace culture at the organisation

The World Economic Forum announced on Tuesday that it has launched an investigation into its founder, Klaus Schwab, following a whistleblower letter alleging misconduct by the former chairman. The announcement came a day after the 87-year-old Schwab said he was resigning as chairman,