Full text of William McChesney Martin, Jr., Papers : Board of Director's Resolution, Box 13, Folder 4

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February 6, 1946

The Board of Directors of the Export-Import Bank, at i t s meeting
today, accepted with regret the resignation of Mr. Wayne C. Taylor as
President of the Bank and announced that Mr. Wm. McC. Martin, Jr.,
Chairman of the Board, would assume the duties previously assigned to
the President in addition to those of Chairman. The combining of the
two offices was agreed upon as an appropriate method of vesting the
management of the Bank directly in the new f u l l - t i m e Board provided
for by the recent Export-Import Bank legislation*
In accepting Mr. Taylor's resignation, the Board adopted the
following resolution:
"RESOLVED, That the Board of Directors of Export-Import Bank
express their sincere appreciation and deep gratitude to Mr. Taylor
for his able administration of the Bank during the difficult period
of the past year and in the transition to the new form of management.
His deep interest and complete cooperation have been of inestimable
value in aiding the Board in the assumption of its duties. His
departure i s cause for sincere regret on the part of each of the
members of the Board. "