In June 1969, when WEFA Inc was incorporated, Lawrence R. Klein was appointed board chairman, Michael D. McCarthy was appointed executive director, and the then Director of the ERU, F. G. Adams, was appointed secretary-treasurer. Other members of the Board were: The Dean of the Wharton School of Finance and Commerce at the University of Pennsylvania, ex officio, The Chairman of the Department of Economics of the University of Pennsylvania, ex officio, Paul F. Miller, (Board of Trustees of the University of Pennsylvania), Michael K. Evans (University of Pennsylvania, economics department), Paul Taubman (University of Pennsylvania, economics department), and Richard J. Kruizenga,(Chief Economist and Manager, Corporate and Environmental Economics, Standard Oil Co. of New Jersey).