Bok Appoints New Chairman For the ACSR

President Bok has appointed Detlev F. Vagts, professor of Law, chairman of the Advisory Committee on Shareholder Responsibility (ACSR).

The committee will most likely continue its case by case review of corporate practices in South Africa, Vagts said, adding that it will probably have time this fall to review a "quick round of information" on firms in South Africa.

Julie Fouquet '80, chairman of the Undergraduate Committee on Harvard Shareholder Responsibility (UCHSR), said yesterday, however, that UCHSR will probably not appoint an undergraduate to the ACSR unless the committee and President Bok accept three reforms--democratic elections of all its members, the representation of workers on the committee and the opening of the committee's meetings to the Harvard community. The committee and President Bok rejected the reforms last spring.

Vagts said yesterday it would be unfortunate if UCHSR did not send a representative to the committee because an undergraduate member aids the committee in determining student opinions toward Harvard investments.

Vagts said he opposes opening the committee's meetings in most cases because such meetings would be "very hard to handle."

But he said he will discuss the issue with any group that sincerely believes the meeting should be opened.

Laurence F. Stevens '65, secretary of the ACSR, said President Bok must still approve the appointment of seven new members to the committee; three graduate students, two faculty and two alumni. Stevens refused to name the seven nominees.

Many of the reports on the individual activities of corporations in South Africa were "sketchy" last year, Vagts said, adding, the committee "may very well" recommend that the Harvard Corporation use shareholder resolutions to goad the corporations into releasing more substantial information.

The ACSR's mandate is to advise the Harvard Corporation on the moral and ethical implications of Harvard's investments