Appointment of Two Members of the Board of Visitors of the United States Naval Academy

The President today announced his intention to appoint the following individuals to be members of the Board of Visitors, United States Naval Academy:

Edward R. Borcherdt, Jr., has been president, Borcherdt & Co. (financial consultants), in Los Angeles, Calif., since 1966. In addition, he was president, Darnell Corp., Ltd. in 1980-81; chairman, the Monterey Vineyard, Inc., in 1976-77; chairman, West Bay Financial Corp., in 1972-74; vice president, the Wolper Organization, Inc., in 1971-72; president, Western Video Industries, Inc., 1968-71; and director, General Services, Western Division, Fry Consultants, Inc., in 1960-66. He is founder and chairman of the California Small Business Development Co. He served in the United States Marine Corps in 1953-57 and attained the rank of captain. Mr. Borcherdt graduated from Stanford University (A.B., 1953; M.B.A., 1957). He is married, has two children, and resides in Los Angeles, Calif. He was born July 12, 1930, in Butte, Mont.

Bernard E. Smith, Jr., is a partner with the firm of Lawrence O'Donnell & Co. of New York, N.Y. Previously he was a partner with the firm Lasker, Stone and Stern in 1967-78 and a partner with LaMorte Maloney & Co. in 1950-67. He served in the United States Navy and Naval Reserve as assistant navigator and aide to executive officer, U.S.S. Midway. He graduated from the United States Naval Academy (B.S., E.E., 1946). He is married, has 11 children, and resides in New York, N.Y. He was born December 20, 1924, in New York City.