World Economic Forum its name to the World Economic Forum in 1987 and sought to broaden its vision to include providing a platform for resolving international conflicts. In the summer of 1971, Schwab invited 444 executives from Western European firms to the first European Management Symposium held in the Davos Congress Centre under the patronage of the European Commission and European industrial associations, where Schwab sought to introduce European firms to American management practices. He then founded the WEF as a nonprofit organization based in Geneva and drew European business leaders to Davos for the annual meetings each January. Schwab developed the "stakeholder"
Young Global Leaders Young Global Leaders The Young Global Leaders, or Forum of Young Global Leaders, is an independent non-profit organization managed from Geneva, Switzerland, under the supervision of the Swiss government. Launched by Klaus Schwab of the World Economic Forum in 2004, the Young Global Leaders are governed by a board of twelve world and industry leaders, ranging from Queen Rania of Jordan to Marissa Mayer of Yahoo! and Wikipedia co-founder Jimmy Wales. Schwab created the group with $1 million won from the Dan David Prize, and the inaugural 2005 class comprised 237 young leaders. Young Global Leaders participate in the Annual