The International Business Council, established in 2001, exists as an independent structure within the World Economic Forum in Davos. The council is a consultative body that includes 100 directors of major transnational corporations of all sectors of the economy. They include the heads of Deutsche Bank, Goldman Sachs, Nestle, Ernst and Young, Chevron, Coca-Cola, Credit Swiss, Morgan Stanley, Sony, Exxon Mobil, Renault-Nissan, Siemens and Cisco.

The council serves the interests of private business and aims to consider common business problems, including business administration and corporate responsibility. The council drafts practical recommendations and performs an advisory role at the World Economic Forum.

The council members are selected by a special membership committee. The council assembles twice a year – during the forum in Davos and again in the summer.