The American Numismatic Association issued a Press Release today concerning the termination of Christopher Cipoletti as Executive Directory and legal Council of the ANA.

The Press Release did not shed any new light on what has already been reported here on CoinLink and elsewhere.

However included in the press release was a link to an online audio which recorded the whole October 16th Board of Governors open session.

This provides an interesting insight into the actual proceedings of the Board and we will let those who listen to it draw their own conclusions. The Audio File can be accessed here

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IMMEDIATE RELEASE: October 18, 2007
CONTACT: Jay Beeton
Telephone: 719-482-9864
E-mail: pr@money.org

Cipoletti Dismissed as ANA Executive Director

Colorado Springs, CO – The American Numismatic Association Board of Governors, on Tuesday, announced that Executive Director Chris Cipoletti has been terminated with cause, effective 5:01 p.m. Oct. 16.

The Board, meeting at ANA headquarters, voted 8-0, with Governor Edward C. Rochette abstaining, to end Cipoletti’s tenure as the Association’s Executive Director and General Counsel. The Board also voted 8-0, with Governor Chester Krause absent, to terminate all financial and trustee relationships including the position of corporate agent held by Cipoletti by virtue of his employment as executive director and general counsel. The action refers specifically to removing Cipoletti’s name as a signature authority on all ANA credit card, investment, pension and banking accounts.

ANA President Barry Stuppler said he could not give specifics about the decision because it was a personnel matter but added, “We felt there was adequate cause to fire him.” The Board also authorized a search for a new executive director. The Executive Review and Compensation Committee, comprised of Stuppler, Vice President Patricia Jagger Finner, Governor Clifford Mishler and General Counsel Ron Sirna, were charged with setting up a procedure to implement the search. Applications for the position will not be accepted until the procedure is established.

Kenneth Hallenbeck will continue as acting executive director until a new executive director is hired, with Kim Kiick serving as chief operating officer. Sirna, an attorney from Flint, Mich., was transferred from his appointment as Counsel to the President to General Counsel.

Cipoletti, who replaced Rochette as executive director in 2003, was placed on administrative leave in August. He began working for the ANA in 1997 and was named its general counsel in 1998.

The ANA Board of Governors met in executive session on Oct. 15 and 16, and held an open session beginning at noon on Oct. 16. An audio tape of the open session can be heard in streaming audio on the ANA website at http://www.money.org/Content/NavigationMenu/AboutANA/BoardofGovernors2/default.htm.

The American Numismatic Association is a nonprofit organization dedicated to educating and encouraging people to study and collect money and related items. The ANA helps its 32,000 members and the public discover and explore the world of money through its vast array of programs including its education and outreach programs, museum, library, publications, conventions and seminars. For more information, call 719-632-2646 or visit www.money.org.