From Longman Business Dictionary
conferencecon·fe·rence /ˈkɒnfərənsˈkɑːn-/ noun [countableC]1a large formal meeting, usually lasting a day or several days, where people discuss things in order to exchange information or to come to an agreementa sales conference
2a private and formal meeting involving a small number of peopleconference withAfter a brief conference with ministers, the Prime Minister left for Germany.
I’m afraid the CEO is in conference and will not be able to see you today.
→ press conference → teleconference