Mr. J. Burke Knapp, Senior Vice President, Operations, who will reach retirement age in 1978, will leave the Bank after 25 years’ service at the end of the fiscal year (June 30, 1978). Mr. McNamara paid tribute to his unique skill, tireless efforts, immense wisdom and unqualified dedication and loyalty.
Effective July 1, 1978 Mr. I.P.M. Cargill (62), a U.K. citizen, will be appointed Senior Vice President, Finance. In this capacity he will continue his direct responsibilities for the Bank’s financial activities and will serve as Acting President and Chairman of the Board in Mr. McNamara’s absence.
On the same date, Mr. Ernest Stern (44), an American citizen who came to the U.S. from Holland in 1947, will be appointed Vice President, Operations. In this capacity he will be responsible for the operational activities of the six regions into which the Bank’s developing country members are divided, and for the Central Projects Staff of technical experts.
The post of Regional Vice President for the South Asia Region, at present held by Mr. Stern, will be filled, as from January 1, 1978, by Mr. W. David Hopper (50) at present President of the International Development Research Centre in Canada. Mr. Hopper, a Canadian citizen, is well known as an agricultural economist. He spent most of the years 1962-70 in India working on agricultural development. In 1964-5 he was a consultant to the World Bank on Indian Economic Development.
Two other officers of the Bank are to be promoted on October 1, 1977 to the rank of Vice President and given additional duties. Mr. Purviz Damry (63), a citizen of India, presently Secretary of the Bank, is to be Vice President and Secretary.
Mr. Eugene Rotberg (47), a U.S. citizen, presently Treasurer of the Bank, is to be Vice President and Treasurer. In this capacity he will take on the additional duty of liaison with commercial lending institutions on matters other than IBRD borrowings and including special co-financing arrangements.