The turnover is the result not of a repudiation of incumbents — in fact, no incumbent who could have sought re-election opted not to, and no incumbent who sought re-election lost — but rather of stricter term limits that the board imposed upon itself in recent years.
’ 55-person board of governors convenes in July, more than one-fifth of its seats will be occupied by people who were not a part of it in June.
This is the result not of a repudiation of incumbents — in fact, no incumbent who could have sought re-election opted not to, and no incumbent who sought re-election lost — but rather of stricter term limits that the board imposed upon itself in recent years.
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