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 Dmitry Medvedev awarded the Russian electrophysicist and academic of the Russian Academy of Sciences, Filipp Rutberg, and the American physicist and professor, Arthur Rosenfeld with the Global Energy Prize 2011. The XVI St. Petersburg International Economic Forum brought together three presidents, two prime ministers and dozens of senior officials and executives from major international companies in Russia’s northern capital from June 21–23, 2012, under the slogan "Effective Leadership." The Forum was attended by Russian President Vladimir Putin, and four leaders from other nations: Finnish President Sauli Niinistö, Kyrgyz Republic President Almazbek Atambayev, Macedonian Prime Minister Nikola Gruevski and Kenyan Prime