Yesterday, Hope called Smith "a brilliant financial guide for Harvard."
"A man like that is irreplaceable," she said.
But she added that the Corporation has survived the departures of many members.
"I am sure there will be very capable new members of the Corporation, as there have been for 300-some years," Hope said. "That has been the history...that will also be the future."
Rudenstine said the skills of both Smith and Hope would be missed.
"What Judith brought was legal experience, experience with government and Washington, where Richard is a successful businessman, very successful in the corporate and the nonprofit world," said Joe Wrinn, University spokesperson. "Those are skills that are important in the governance of the University."
Despite the loss of those skills, the Corporation's aims will remain unchanged Rudenstine told The Crimson. Among the Corporation's "compelling priorities," Rudenstine said, are new initiatives in the sciences, a proposed center for international affairs, and information technology concerns, including distance learning.