Regional President Speech

R E M A R K S B E F O R E T H E DEPARTMENT HEADS CONFERENCE November 17» 1969 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis OUTLINE OF REMARKS BEFORE THE DEPARTMENT HEADS CONFERENCE November 17, 19&9 I. Bank w ill have new President and F irst Vice President beginning March 1, 1970 65 A. Why? For RNH — thinks should apply to a ll. B. Why? For KRB — 1. Effect on retirem ent allowance. 2. Effect on morale of Bank. II. Procedure of directors. A. Informed last spring. B. Executive Sessions. 1. Role of Reserve Bank. a. In monetary policy. b. In local leadership. c. Internal efficiency. 2. Q ualifications of President and F irst Vice President. a. Job descriptions. b. Job specifications. C. Searching for candidates. 1. Responsibility of President for management succession. Influence on selecting F irst Vice President. 2. Searching outside. a. Views of others — Former directors. Others. D. Can't please everybody. E. Approval of Board of Governors. F. Selection of Daves. We are heartily for them. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis -2- III. Some Management Principles. A. Responsibility at each level for succession. B. Vie a ll want to get ahead. C. Great workman may not make great foreman. Dad and carpentry. D. The Peter Principle. E. The problem of human relations. 1. Not what you can do so much as what should be done. And getting others to do it. 2. How am I getting along with people? IV. Satisfactions in whatever one does. How quickly one becomes a "has-been." A. Friday luncheon by F irst Pennsylvania Company for DPE and DCM. "Hey, m ister, w ill you move closer to Bob Corson." B. Bob limping along — lame duck. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Karl R. Bopp (1969, November 16). Regional President Speech. Speeches, Federal Reserve. https://whenthefedspeaks.com/doc/regional_speeche_19691117_karl_r_bopp

@misc{wtfs_regional_speeche_19691117_karl_r_bopp,
  author = {Karl R. Bopp},
  title = {Regional President Speech},
  year = {1969},
  month = {Nov},
  howpublished = {Speeches, Federal Reserve},
  url = {https://whenthefedspeaks.com/doc/regional_speeche_19691117_karl_r_bopp},
  note = {Retrieved via When the Fed Speaks corpus}
}