Section 17
SEC. 17. Appointment and tenure.&mdashThe term of office of the first members of the Board shall expire as designated by the President at the time of nomination: one at the end of the second year; two at the end of the fourth year; and two, including the Chairman-General Manager, at the end of the sixth year after the approval of this Act. A successor to a member of the Board shall be appointed in the same manner as the original members and shall have a term of office expiring six years from the date of the expiration of the term for which his predecessor was appointed.