From the Worldwide Faith News archives www.wfn.org
CEO Dismissed From Investment And Loan Program
04 May 1996 18:52:08
96147 CEO Dismissed From Investment And Loan Program
by Julian Shipp
LOUISVILLE, Ky.--Roughly six weeks after taking office, the Rev. Robert D.
Curtis, president and chief executive officer of the Presbyterian Church
(U.S.A.) Investment and Loan Program, Inc. (PILP), has been dismissed by
the PILP board of directors because of "differences in [his and the
board's] vision for the direction of the program."
Curtis could not be reached for comment, but the unanimous decision
to terminate his employment "without prejudice" is effective immediately,
according to board chair Alvin N. Puryear of the Bronx, N.Y. Puryear said
the board expects to name an acting president by the end of April and begin
the search for a replacement. Curtis was selected for a four-year term by
the PILP board Feb. 5.
The Rev. John W. Coffin, parish associate at Harvey Browne
Presbyterian Church in Louisville, Ky., told the Presbyterian News Service
that he has been "in conversation" with PILP officials regarding serving as
acting president, but said it would be "inappropriate to comment further on
the matter at this time." Coffin was director of the denomination's former
Stewardship and Communication Development Ministry Unit.
The decision to release Curtis came during PILP's board meeting here
on April 13. Curtis, the former CEO of the Synod of Mid-America's Church
Development Corp., was hired March 1 to head the new program, which was
approved by the 1995 General Assembly.
PILP was formed to generate money for new church development and other
projects by issuing investment certificates to Presbyterian investors at
competitive rates and lending the money to churches at below-market rates
to meet their capital needs.
Puryear said the board has worked long and hard over the past several
months to implement the General Assembly's mandate to develop the program
and hire a CEO. But during the meeting "it became clear that there were
sufficient differences in the directions in which the board and Bob wanted
to go to warrant a decision to seek new leadership," Puryear said.
In taking its action, Puryear said, the board was looking at PILP's
long-term needs. He said the decision represented only a temporary setback
in getting the program off the ground.
"No other staff were involved -- Bob had not yet brought other staff
on board -- and the initial offering circular is still being prepared,"
Puryear said. "We thought it better to make the decision now than to
prolong it to a point where, if things didn't work out, we'd have more to
deal with once we started receiving investment dollars and making loans."
PILP is a separate entity from the Presbyterian Church (U.S.A.). But
Eric Graninger, PC(USA) general counsel and PILP secretary, said that since
Curtis was "separated without prejudice," and since the PILP board adopted
the personnel policies of the General Assembly Council, Curtis is entitled
to receive the standard benefits under the denomination's personnel
policies. These entitlements include notice, severance allowances, and
For more information contact Presbyterian News Service
Presbyterian Church (U.S.A.), Louisville, KY 40202
phone 502-569-5504 fax 502-569-8073
E-mail PCUSA.NEWS@pcusa.org Web page: http://www.pcusa.org
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