Nomination of Maurice H. Stans To Be a Member of the Board of Directors of the Overseas Private Investment Corporation

The President today announced his intention to nominate Maurice H. Stans to be a member of the Board of Directors of the Overseas Private Investment Corporation He would succeed William M. Landau.

Mr. Stans served for 10 years under two Presidents, 6 of those years in Cabinet-level positions. He became Secretary of Commerce on January 22, 1969, and held that post until February 1972. Mr. Stans is currently a business consultant in Los Angeles, Calif.

Previously he was president of Gore Forgan Staats, Inc., investment bankers, New York, in 1961 and 1962. He served as Vice Chairman and a Director of the Bureau of the Budget under President Eisenhower in 1958-61 and had been Deputy Director for 6 months.

For 2 years before the budget bureau post, Mr. Stans had been Deputy Postmaster General. In 1953 he served on a task force which assisted the House Appropriations Committee in reviewing the Federal budget for fiscal year 1954. Prior to 1955 he was executive partner in the national accounting firm of Alexander Grant & Co.

He attended Northwestern University and Columbia University. Mr. Stans is married, has four adopted children, and resides in Los Angeles, Calif. He was born March 22, 1908, in Shakopee, Minn.