Appointment of Carlos Velarde Ponce as a Member of the Board of the Panama Canal Commission

The President today appointed Carlos Velarde Ponce to be a member of the Board of the Panama Canal Commission. He would succeed Fernando Cardoze Fabrega. Since 1969 Mr. Velarde has been economic adviser to Azuearera National, S.A. (the national sugar factory) and since 1972 has been a member of the board of directors. Since 1956 he has been a professor of political economics at the University of Panama and since 1970 has been a member of the board of directors of Velisac, S.A. (an economic and financial consulting firm). He was recently appointed as a member of Panama's National Banking Commission.

Mr. Velarde graduated from Ripon College (B.A., 1952) and Indiana University (M.A., 1954). He is married and has four children. He was born January 3, 1930, in Panama City, Republic of Panama.