The President of the United States of America takes pride in presenting the Navy Cross (Posthumously) to Ensign Davis Elliott Chaffee (NSN: 0-104298), United States Naval Reserve, for extraordinary heroism in operations against the enemy while serving as Pilot of a carrier-based Navy Dive Bomber in Bombing Squadron FIVE (VB-5), attached to the U.S.S. YORKTOWN (CV-5), in action against enemy Japanese forces during the Air Battle of the Coral Sea on 8 May 1942. In the face of heavy anti-aircraft fire and against powerful fighter opposition, Ensign Chaffee participated in an attack upon an enemy Japanese aircraft carrier which resulted in the sinking or severe damaging of the carrier. His extreme courage and gallant conduct contributed greatly to the success of our forces in the Battle of the Coral Sea and were in keeping with the highest traditions of the United States Naval Service.