On or before the first day of July, one thousand nine hundred ninety-two, the governor shall name the five original appointive board members for terms of one, two, three, four and five years respectively, beginning on that date. Thereafter each appointment shall be for a term of five years, except that an appointment to fill a vacancy shall be for the unexpired term. The governor, with the concurrence of the board, may remove an appointive board member for misconduct in office, incompetency, conflict of interest, neglect of duty or other sufficient cause after due notice and hearing, if requested.