World Economic Forum series of research reports and engages its members in sector-specific initiatives. There have been many other international conferences nicknamed with "Davos". However, the World Economic Forum objected the use of "Davos" in such contexts for any event not organised by them. This particular statement was issued on 22 October 2018, a day before the opening of 2018 Future Investment Initiative (nicknamed "Davos in the desert") organised by the Public Investment Fund of Saudi Arabia. The WEF was founded in 1971 by Klaus Schwab, a German-born business professor at the University of Geneva. First named the "European Management Forum", it changed
World Economic Forum Economic Forum strives to be impartial and is not tied to any political, partisan, or national interests. The foundation is "committed to improving the State of the World". Until 2012, it had observer status with the United Nations Economic and Social Council; it is under the supervision of the Swiss Federal Council. The foundation's highest governance body is the foundation board. The Forum is chaired by Founder and Executive Chairman Professor Klaus Schwab and is guided by a Board of Trustees that is made up of leaders from business, politics, academia and civil society. Members of the Board of Trustees