Nomination of L. William Seidman To Be a Member of the Board of Directors of the Federal Deposit Insurance Corporation

The President today announced his intention to nominate L. William Seidman to be a member of the Board of Directors of the Federal Deposit Insurance Corporation for a term of 6 years. He would succeed William M. Isaac.

Mr. Seidman is dean of the College of Business at Arizona State University. Previously, he was Cochairman of the White House Conference on Productivity in 1983-1984; vice chairman of the Phelps Dodge Corp. in 1976-1982; a member of the Board of Foreign Scholarships at the Department of State in 1977-1980; Assistant to the President for Economic Affairs in 1974-1977; managing partner of Seidman & Seidman, certified public accountants, in New York in 1968-1974; and Chairman (1970) and Director of the Federal Reserve Bank of Chicago, Detroit branch, in 1966-1970.

He graduated from Dartmouth (A.B., 1943), Harvard Law School (LL.B., 1948), and the University of Michigan (M.B.A., 1949). He is married, has six children, and resides in Tempe, AZ. He was born April 3, 1921, in Grand Rapids, MI.