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"
St. Petersburg International Economic Forum Prior to this, the Forum was held at the Tauride Palace, the headquarters of the Interparliamentary Assembly of Member Nations of the CIS. The St. Petersburg International Economic Forum Foundation was established in March 2007 to deal with the organizational and technical aspects of running the forum. Anton Troyanov was appointed Director of the Foundation. The first Forum in the updated format was held in 2007, organized by the SPIEF Foundation under the leadership of the Organizing Committee. The same year a partnership between the World Economic Forum (WEF) and SPIEF was announced. On January 25, 2007, St. Petersburg International