The Hofner President, and it's one-pickup sibling, the Hofner Senator were two German built bass guitars available to the UK market. The President was distributed by Selmer along with a guitar equivalent, the Hofner President guitar. It was a twin-pickup hollow body four-string bass with venetian cutaway, descended from, though not to be confused with the Hofner 500/5 (333) famously played by Stuart Sutcliffe in the early days of the Beatles.
The following description comes from the 1965/66 Selmer catalog
A big sound, a great appearance and a wonderfully low price - that's the story behind the famous President series. Fitted with adjustable bridge and the latest "NOVA-SONIC" double pole, double coil pickups each having it's own volume and tone control. Exclusive "slenda-nek" with truss rod is another important feature. Machine heads are efficient smooth working. In glorious brunette sunburst finish with mother-of-pearl dot inlaid fingerboard. F-holes and edges are effectively lined in white