 Good morning, ladies and gentlemen. My name is Adrian Monk from the World Economic Forum and it's my pleasure to introduce to you our co-chairs for this year's 2017 annual meeting. Heller Tawning-Schmidt, Chief Executive Officer of Save the Children International in the United Kingdom. Brian Mornehan, Chairman of the Board and Chief Executive Officer from Bank of America in the United States. Meg Whitman, President and Chief Executive Officer of Hewlett-Packard Enterprise from the United States. Frans Van Hooten, President and Chief Executive Officer of Royal Philips from the Netherlands. And finally, Shamine Obed-Chanoy, Documentary Filmmaker and Award-winning movie maker from SOC Films Pakistan. So we'll have a chance to hear from all of our co-chairs this morning on the theme of their expectations for this year's annual meeting and what's top of their minds. And then we'll have a chance for some questions afterwards. We'll be asking you to tell us where you're from and who you are before you ask your question and we're convening under the theme of responsive and responsible leadership and that will be the topic that is today's for all of our co-chairs. So Heller, I'm going to ask you to begin. Thank you very much, Adrian. First of all, I want to say that I am very pleased and very honored to have been asked to be the co-chair of this this year's World Economic Forum. I've been coming to the forum for many years and feel part of the community but I do think that this year's headline makes a lot of sense, particularly following the year 2016. The headline is Responsive and Responsible Leadership. What does that mean? Well, to me, it means two things. Responsive means that you have to listen. It means that you have to listen to the people that you don't necessarily agree with and you have to try and understand what they're saying. And I think that's very appropriate as we come out of 2016. Responsible means putting a longer-term view in everything you do. And what I'm hoping to to be part of this year's World Economic Forum is basically to remind world leaders, whether they are in politics as I have been myself or in corporate leadership, to remind them that not to put the short-term financial and political interest first, but actually align everything they're doing with the framework or the blueprint, if you will, that we already have for how we're going to make the world a better place. That framework or that blueprint is the sustainable development goals. And I'm hoping that everyone will leave this meeting actually knowing how they're going to put one foot in front of the other to align everything they're doing with the sustainable development goals. And I'm very pleased that this has been chosen as the agenda for this year's meeting. And I feel we can leave this mountain with real progress on actually asking ourselves, what can I do as a leader and what can we do together to improve the state of the world by engaging in the sustainable development goals? So that's why I'm here and very happy to be part of this. Hello, thank you very much. Brian, can I ask for your reflections on this year's meeting? Sure. Thank you and thank you to Klaus and the WEF team for putting together a another full and great agenda and under a great theme with responsive and responsible leadership. It's a theme that's right for our times as Klaus has laid out in some of his discussion. And I look forward to working with my fellow co-chairs and really all the participants in the meeting during the week. It's interesting because a couple years ago in our company, we changed our sort of our mission to responsible growth and and the ideas behind that are very similar to what Klaus talked about. We have to grow no excuse. You have to do it the right way and you have to be sustainable in everything you do. And as I thought about my role this week, I thought about how everybody, you started home and how you live at home and how that plays out in the broader communities. And you know, in the end of day, we have to grow. Countries have to grow. Economies have to grow to create a bigger and bigger opportunity for all the citizens of the world. Our industry financial services has to play a role in making it happen. But we have to do it the right way. The growth that has to take place has to be focused on all participants in the economy. And in this forum and this week, we'll remind us of that. And my co-chair just spoke to it. It has to include everybody. It has to deal with the inequalities, the fallout, the ups and downs of market-based forces. It has to deal with developed and developing countries, urban and rural, all the different aspects. So it has to focus on all participants and make sure they're all taken care of. It also has to avoid excessive risk. The risk that we saw in the crisis almost a decade ago now that built up, we have to avoid that risk. And it also has to be sustainable, whether it's sustainable in the environmental context, whether it's sustainable in investing in the future context, whether it's sustainable with dealing with the changes in technology that we all see and the impacts from that. And whether it's also sustainable in building the safety nets in societies around the world to help and make sure all citizens are taken into account and dealt with fairly as the world's growth takes hold. So as I look forward to the week, it's a week to learn, a week to be curious, a week to learn from other people. But importantly, we need to continue the themes of responsive and responsible growth. Thank you very much. Meg Mausky, for your reflections ahead of this week's meeting. Sure. Well, thank you very much, Adrienne, and I'm very pleased to be here. As a technology executive, one of the things I see every day is that technology has changed everything about how we live, how we work, how we interact. And I think we are at the very beginning of the change that technology will impact the world. And if you think about it, technology is now disrupting every single industry and every single job. And my view is the pace of change is only going to accelerate. Think about the current technology that we have and then add on to that robotics, more automation, artificial intelligence, smarter devices, the Internet of Things, autonomous driving vehicles. This can be a tremendous force for good. I think technology will help make permanent climate change advances, change agriculture so that there is more food, can help water, medicine, diagnostics. But there is also a change that we have to be very focused on, which is that jobs are going to change, jobs will be lost, jobs will evolve. And this revolution is going to be ageless, it's going to be classless. And I think it's going to affect everyone. And I think it's up to business and government and academia in a partnership to manage this transition, perhaps more aggressively than we have over the last 10 to 20 years. We've got to manage it thoughtfully, we've got to manage it deliberately and we have to manage it with responsive and responsible leadership. And as I think about this week, I want to focus on how we can be more transparent and communicate more effectively with all the constituents who we interact with. I want to think about how we as a collective group can drive more economic growth, because if we could do only one thing, the acceleration of economic growth will solve many of these job transition challenges that so many of our employees, customers and partners have. And we also have to think about education. I think now K through 12 education, at least in the United States, is becoming more and more out of step with what is required. And then how do we create a culture of lifelong learners? And I think if I could focus on one thing this week and look for in the sessions that I attend, is how do we rebuild trust in business, in government, in institutions? Because I think what has happened in this dislocation, which quite frankly is caused to some degree by technology, the lack of trust among our citizens in virtually every country, I think is a very acute problem. So delighted to be here. Lots to think about and an excellent week, I think for reflection on how each of us as individual leaders can manage this in a more effective way than has been done in the past several years. Thank you very much, Franz. Can I ask you what your expectations are of this coming week? Sure, my pleasure. First of all, I'd like to say that I am happy and proud to be co-chair here at the World Economic Forum in this year, especially around the theme of responsible and responsible leadership, something that is close to my heart and also I believe close to the nature of my company, Philips. For those of you who don't know, Philips is one of the world's leading health technology companies. And in fact, over the last month, I've been part of the team instigating the World Economic Forum Compact for Responsive and Responsible Leadership. And obviously I have signed it and also the chairman of Philips as we believe that the signatures reinforce a set of common values underlining that companies have a role to play with a longer term vision, but also a role to make the world more sustainable. And unsurprisingly, we have built in the SDGs, the sustainable development goals of as formulated by the United Nations in this compact, you know, how to make people healthy, improve their well-being, make them have food, address the climate issues, and so on and so on. These are all very relevant topics that I think are also very much on the mind of people in the world and maybe causing some of the unrest and mistrust that was just talked about. So if we all, let's say, put our companies to work in a responsible and responsive way, we will actually make a better society. And so far, over 100 CEOs since yesterday have signed already. One of my goals here in Davos is to make sure that we all move away from short-termism and suboptimization towards a more inclusive way of entrepreneurship. The world is changing. There is a lot of fragility and complexity. There's also progress in other parts of the world. We should not only look at the West. We should also recognize that in Asia, billions of people actually have improved their lifestyle over the last 10 years. So that is also great progress. But obviously, there are challenges to deal with. Now, at Phillips, we have made the decision to focus our company on improving health and well-being. We have a clear vision to make the world healthier and more sustainable, and actually we have said we want to touch and improve people's lives, 3 billion of them by the year 2025. We need to understand and truly listen how, for example, precision medicine can get to better outcomes, how more productive health care can lead to more affordable health care. And for example, in countries like Africa, we can bring primary care in areas where there are not even doctors. So making health care inclusive and accessible and affordable. Technology will play a big role in it. And over the last few years at the World Economic Forum, we have put health and health care as an important theme on the agenda. And I'm very pleased and proud that as one of the governors around health care, we bring together NGOs, providers, insurance companies, technology companies in order to discuss how we can actually make people healthier, prevent disease, prevent the spread of communicable diseases, but also how to do with chronic disease. And technology will play a big role there. So for us, the North Star is how to make the world healthier. I think this week, there will be a lot of dialogue on how to take the next steps there, whether it's food related, whether it's technology related, health care related. I'm sure that we can make progress there. But then, of course, it's all about action. Decisive action needs to be taken and I think for me, this week will be good when there is clarity of insight and also clarity of the actions we will take henceforth. And of course, all CEOs then hopefully sign this compact for responsive and responsible leadership. Thank you. Frans, thank you very much. Shameen, thanks for joining us as co-chair and also representing the fantastic young global leaders community of the World Economic Forum. Can you just give us indication of what you'll be will be top of your mind this week? Well, it's a great honor to be the first artist to be a co-chair and I think it really shows that the World Economic Forum is looking at a responsive and responsible leadership because everyone is talking about how arts and culture is no longer intangible. It is very much quantifiable and if we are talking in the context of the World Economic Forum, then we should look at how arts and culture is transforming economies around the world. And it's not only transforming economies in the way that it's providing jobs and regeneration of neighborhoods and suppressed areas, but also the fact that it is contributing to the GDP of various countries. I mean, if you look at the United States right now, 3.25% of the GDP comes from the arts and culture which is far higher than agriculture and tourism. And so we need to start having a real conversation about what arts and culture really is. Not only does it create empathy, not only does it bring people together, but I think the most important thing for me this week is to talk to leaders and to get a conversation centered around how businesses and world leaders can invest in arts and culture, not simply because it's something that they must do, but it's also because it makes good business sense for them to do so. In Canada, which I called my second home, there's a very famous study that's recently been done which shows that it's been done by the Canadian Business Council, which shows that in communities where art and culture is invested, the respondents, 86% of respondents said overwhelmingly that it felt that they had a healthier life, a better life. I mean, these are the statistics that are speaking about the future. In the UK, you find that the Arts Council says that for every pound invested directly in public arts gives a return of five pounds back in taxes. And so this week my hope is that we all simply not look at arts and culture as something that is separate from the entire conversation that is taking place here, but that is very much something that all of us need to talk about if we are going to talk about a world that is more inclusive. Thanks to our co-chairs. And can I just get a sense in the room of who would like to ask a question? Okay, we have microphones for you. Can we start perhaps at this end and take a couple and can you just tell us who you are and where you're from as well? Hi, I'm Claire Zulman. I'm with Fortune Magazine. My question is for Ms. Whitman. You talked about government being a partner in this effort, especially for making technology a force for good. I'm wondering if you think that President Trump, soon to be President Trump, fits your definition of a responsive and responsible leader. Okay, great, and on the front row. A similar question, Angela Charlton from The Associated Press. It's really a question for all of you, your comments, notably in the beginning about listening to our adversaries. What message would you send to Theresa May, speaking today about taking her economy out of the larger world? And for Mr. Trump, who's obviously taking office on Friday on the issues of government responsiveness. Okay, and just lastly there, because I think we can, oh. Maybe Lady at the back as well. Thank you, Hannes Koch, correspondent for German newspapers from Berlin. Two questions to Ms. Tawning Schmidt. First, what do you want to achieve for your purpose to improving the situation of children? And second, can you collect some real offers or contributions by corporations concerning reaching the SDGs? Okay, thanks, Farron. So a chance perhaps to our panelists to reflect on responsive and responsible leadership and examples of that in the current environment. Also, to Heller there, just on some of your hopes on children. Would you like to take that first, perhaps? Sure, sure. Well, first to the question about what the British government should be doing now, I'm hoping that both the British government and the American government will stand by their legacy in terms of their development humanitarian work. And I'm hoping that that will happen from the British side and of course the American side as well. We're still expecting a lot from the US in this area. And I hope that the new administration will live up to the history and legacy of any US administration and also particularly Republican administration that have been very active in both the humanitarian and development field. So that's one thing. To the question of what am I as the only civil society representative here hoping to do as a co-chair. Well, I'm here to work for children. And I'm here to remind everyone that we have actually one and a half years ago made some really serious pledges to the most deprived people of this world, particularly children. We promised, for example, in the Sustainable Development Goals that we would end extreme poverty by 2030. Well frankly, it's not going so well. We have 350 million children right now living in extreme poverty. In the 13 years that we have left to 2030, we will have put that figure down to about 167 million children living in extreme poverty. Not poverty, but extreme poverty. And I'm basically here to ask everyone to align around these goals and ask themselves, what can I do? And I do think that the social compact that we are asking any leader to sign from this meeting is a very powerful tool. Because once you have signed this tool, you're actually saying that we will not let short-term political or economic goals stop us from reading the long-term goal of a fairer and better world that is aligned with Sustainable Development Goals. That's why I think the compact that the business leaders will be signing is very powerful because it means that everyone have to go back and ask what can we do in our company? And I'm sure that can work for children. And let's just remind ourselves that apart from the moral obligation we have to help children in extreme poverty or where their education needs or whatever, we also have, it's also the smart choice because the children of this world, if they're growing up in poverty or not in safe places or without education, what kind of world will they be part of and what kind of future will they be part of for all of us? So that's why I'm here. And I'm actually very hopeful that we can get some real steps in the right direction. Brian, some of your reflections on the challenges facing political leaders as we look at it this week and in an hour's time, I think we're gonna be hearing from another of them on his thoughts on the global economy. Sure, I think a few political leaders around the world are reflecting the trends in society that are dealing with some of the issues that Frans and Meg and others spoke about, which is dislocations coming from massive changes in technology, massive changes in ability to deliver goods and services on a global basis. And the institutions that we have that have developed over time have to change to develop to meet that. And so I think the number one job for a leader of any enterprise, whether it's a civil or political or a business, is to be responsive to the people they lead, the case of customers or employees. And I think that the political leaders, whether it's the President of the United States, whether it's the Prime Minister that referenced earlier speaking on the terms of leaving the EU, these are all people who have to respond to their populace and deliver it. But they have to be responsive to 100% of their populations and figure out what's best for them. So I look forward to having the thing that one of the tenants of the meeting this year is also collaborative groups. And well, there's a lot of discussion about what you can collaborate on in the world and what it can actually get done. The principles that my colleague just spoke about signing a compact in American America has signed a compact also of long termism is a good thing. And we believe in it and I think it will help keep everybody focused as Frantz said on that North Star where you're trying to go over the long term and the ins and outs of the day to day will be dealt with. Yes, well let me answer your question. So obviously the election in the United States did not turn out the way I had hoped it would. But the election has occurred and we as Americans have got to give our new president the benefit of the doubt. And he will have now a chance to prove that he can demonstrate responsive and responsible leadership. So my call to all Americans and my employees in particular was we now have to give him the benefit of the doubt. As I reflect on what these leaders must do, I hear very much what Brian is saying is I think what this election in the United States and what Brexit showed us is there is a group of people who feels that they have been left behind by globalization and the changes that technology has really caused to occur over the last several decades. And now, business, government, we have to think about how we manage that workforce transition, how we make sure that the left behind parts of all of our countries really do get a chance. And this comes back to very deliberate and thoughtful workforce transformation and transition. And the challenges that we have in the United States is the new jobs may not be geographically in the same place that the old jobs were. And so what do we do about people who are living in places where AI is not going to be an employer, autonomous driving vehicles aren't necessarily going to be there. How can we help those folks move into the new economy and take advantage? And I think, as I said, it's about education and it's about workforce, very careful workforce management and transition. Franz, your thoughts on those two points. Well, I think a lot has been said. Look, I believe in dialogue. We all need to dialogue between leaders and business, between, let's say, the people in the society that leads to a more inclusive and cohesive approach. I would worry about disruptive measures or new found nationalism closing borders. I think that would all not be very helpful. In any case, businesses like ourselves at Phillips, I mean, if you say roughly we have one-third revenue in the US, one-third in Europe, one-third in Asia, our employment is like that as well. And we can talk about these kind of things. And I also see that with technology evolution, 3D printing, the supply change of the world will change and maybe that will lead to some further adaptations. And I think it's important that we all have the dialogue around it and then create new opportunities because just trying to go back to the past that may feel good, but actually is not going to work. So together we have to co-create the future and you do that by teaming up and by being inclusive. And for that, the compact for responsive and responsible leadership is anchored around the SDGs is just the thing. And two years ago at the VEF, people started talking about it. Now it's really becoming a movement. So I really see good and positive change here. And Shamin, collaboration is one of the things that you do as an artist and filmmaker and perhaps win a take on politics. Might learn something from the world you come from. I have a slightly different take. I think that perhaps because I come from a different part of the world, I think that the world is far more polarized now than it has ever been. I find that the language of hate often trumps the language of dialogue and inclusiveness. And I think that this is the time to speak up and this is the time to speak out when you see something that you do not agree with and something that is not true to your core values. I think that it is not the time to stay quiet. It is not the time to hope that things will change. It is the time to push so that things do change and the world that you believe in and the values that you believe in stay and are not overridden by another language that you do not subscribe to. Okay, we're almost out of time on this meeting and I know our coaches all have engagements pressing. Can I just take very quickly, probably a one line answer, lady at the back. Assistant leader from China Daily, I just wanted to ask what are your expectations for President Xi Jinping's address today and what are your expectations for China's role on responsive and responsible leadership? Okay, very quickly. I'm gonna rattle down because I think we've got one and a half minutes and I think even the briefest of answers will exhaust our five panelists. But in an hour's time, we'll hear from China's president and we'll know exactly what he has to tell us. But expectations of China and its role. Hella, can I just start with you? I've worked a lot with China when I was Prime Minister of Denmark. Very good relationship with China and I'm expecting the Chinese leadership to engage in the global community and I think being here is a sign of that and also telling us a little bit about how they will contribute to the sustainable development goals and be engaged in that. Not short. I'd say the same thing. I'm looking forward to hearing from the president and how he will be a responsive and responsible leader on the world stage and so it'll be a very interesting morning, I think. I'm looking forward to President Xi's talk on the global economy and sustainability. China can play a real important role in further driving the world and the stability of the world. I think the presidency coming to Davao is already a sign of China being prepared to contribute to prosperity in the world. Shalini? Well, you know, living in Asia, China's playing a huge role, especially in my home country of Pakistan and to see how it can contribute to the greater growth of its neighboring countries is something that I'm looking forward to hearing him talk about. Great. Ladies and gentlemen, thank you very much. Thanks to our co-chairs and I hope you'll get a chance to hear proceedings this morning and make the most of this year's annual meeting. Thank you. Thank you.