Klaus Schwab, founder of the World Economic Forum (WEF) in Davos, is stepping down as chairman of the forum’s Board of Trustees according to a statement issued on Monday. "Following my recent announcement and at the start of my 88th year,

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

The board, which includes ex-U.S. Vice President Al Gore and Jordan's Queen Rania, took note that Schwab created the "leading global platform" for "dialogue and progress" during his 55 years of "relentless leadership at the helm of the Forum."