Ludwig Erhard, then the vicechancellor of the Federal Republic of Germany, arbitrated an agreement wherein Hayek would be replaced as the society's president by Wilhelm Röpke, and Hunold would resign his position as its secretary in order to become a vice president. The conclusion was announced at the Kassel meeting, where Hayek spoke graciously about the past contributions of Hunold. “I will once more very briefl y say that I have no doubt that the Society would never have come into existence and would not have been as successful had it not been for Dr. Hunold's efforts,” he told the assembled members.

Angus Burgin, The Great Persuasion, loc. 343