; and (B) prescribe the duties of those officers. (d) Terms (1) Initial terms The initial terms of the members of the Board shall be 5 years. (2) Subsequent terms For terms beginning after the date that is 5 years after the date of enactment of this section, the Board shall create staggered terms of 3, 4, and 5 years for members of the Board. (e) Vacancies Any vacancy on the Board shall be filled in the same manner in which the original appointment was made. (f) Interim appointments A member appointed to fill a vacancy occurring before the expiration of the term for which the predecessor of that member was appointed shall serve for the remainder of the term for which the predecessor of that member was appointed. (g) Reappointment A Member of the Board may be reappointed for not more than 1 additional term of service as a member of the Board. (h) Continuation of service A member of the Board whose term has expired may continue to serve on the Board until the date on which a successor member is appointed and confirmed. (i) Chief Executive Officer The Board shall appoint a Chief Executive Officer who shall be responsible for— (1) hiring employees of the Bank; (2) establishing the 2 divisions of the Bank described in sections 5245D and 5245E; and (3) performing any other tasks necessary for the day-to-day operations of the Bank. (j) Advisory committee (1) Establishment The Bank shall establish an advisory committee, which shall be composed of not more than 13 members appointed by the Board on the recommendation of the president of the Bank. (2) Members Members of the advisory committee shall be broadly representative of interests concerned with the environment, production, commerce, finance, agriculture, labor, services, and State government, of whom— (A) not fewer than 3 shall be representatives of the small business community; (B) not fewer than 2 shall be representatives of the labor community, except that no 2 members may be from the same labor union