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amplifications below,the agenda papers reflected the Committee's views. The Committed expressly endorsed each of the proposed actions.

It was noted that the current terms of Regents Gell-Mann and Acheson are scheduled to expire July 25, 1986 and December 22, 1986 respectively. As the Committee had ascertained that both Regents are willing to stand for renomination and to continue their active service to the Institution for an additional term, the Committee recommended the following motion which was adopted by the Board:

VOTED that the Board of Regents renominates Murray Gell-Mann and David C. Acheson to serve additional terms for the statutory period of six years from the expiration of their current terms and requests that the Congressional members of the Board introduce and support legislation to that effect.

The Executive Committee discussed the Report of the Investment Policy Committee and took note that the Institution's holdings in Batterymarch's Trustees Commingled Fund, while measurably diminished in recent weeks, may still be perceived as inconsistent with the action taken by the Executive Committee in June 1985 to divest of the Institution's investments in American companies involved in South Africa who had not subscribed to the Sullivan Principles. The Executive Committee anticipated that this matter would be discussed further at the Regents' meeting on January 27, as it was (see below, under Report of the Investment Policy Committee).

In his oral presentation to the Committee, Mr. Adams discussed a variety of matters which he said he would raise in the Secretary's Report for the meeting of the Board. Among these items, he mentioned that he had drafted a set of partially decentralized procedures for Smithsonian development activities and, after discussion, the