This is how I work: question the promise, examine the evidence, and name what needs to change. Bring me the business problem everyone keeps talking around.
*Departure announced for the end of 2026. This is a leadership retrospective, not an obituary.
SATIRE Satirical illustration, not a depiction of an actual ceremony.
GROWTH IS NOT ROI ✦ RESEARCH IS NOT REFORM ✦ APPLAUSE IS NOT ACCOUNTABILITY ✦ SHOW THE RECEIPTS ✦
THE SHORT VERSION
A bigger institution. An unfinished case.
The evidence supports a tough critique, not a blanket conviction.
Institutional growth and consequential transparency research are real. So are persistent adoption gaps. But the reviewed public record does not establish the return members received for their dues.
EDITORIAL VERDICTExpansion: demonstrated. Accountability: incomplete. Member ROI: unproven.
01 / THE SCORECARD
And the award goes to…
No invented letter grades. No false precision. Just a judgment, the evidence, and its limits.
Showing all 7 findings
Delivered01
THE BIGGER TENT AWARD
He grew the institution. That part is not in dispute.
188 → 1,600
Member companies, as reported by ANA
ANA credits Liodice’s tenure with membership expansion and five association acquisitions.
THE CALL
Strong evidence of organizational scale. Not, by itself, evidence of better economics for members.
What this does not prove +
The figures are ANA’s own account. Acquisitions contributed to growth; membership growth is not a measure of savings or satisfaction.
A benchmark partner reported lower TrueCPM and 45.7% more True Impressions per dollar for Kimberly-Clark. ANA also offers research, training, and peer networks.
THE CALL
“Nothing of value” is too strong. There are tangible tools and reported gains worth acknowledging.
What this does not prove +
This is a partner-reported case, not independent proof that ANA caused all the gains or that the typical member achieved them.
Among 114 qualified respondents to ANA’s 2026 principal-media study, controls remained uneven. ANA’s June retrospective itself said progress was insufficient.
THE CALL
A weak implementation record for an issue central to ANA’s mission. Raising awareness is not the same as securing adoption.
What this does not prove +
These are survey results, not a census. Principal media means an agency buys inventory and resells it; the model is not inherently fraudulent. ANA cannot unilaterally rewrite members’ contracts.
The benchmark improved from 43.3% in Q1. It tracks spend reaching measurable, viewable, fraud-free, non–made-for-advertising impressions.
THE CALL
Progress deserves credit. The remaining gap makes a victory lap premature.
What this does not prove +
This is a measured programmatic sample, not the entire advertising economy. It is neither ROI nor evidence that the other 54.9% was fraud. The benchmark separately reports transaction costs.
The reviewed sources show benefits offered and individual results. They do not establish a membership-wide, independently validated return on dues.
THE CALL
The strongest critique is an accountability gap: make the realized savings, adoption, and attributable outcomes visible.
What this does not prove +
Not established in this review does not mean zero value, or that no member has performed its own evaluation. ANA offers utilization reports to member representatives, but those are not a public, aggregate ROI study.
Show independently validated, attributable outcomes, not just participation, reports, and organizational growth.
02
What actually got adopted?
Publish the share of members using contract protections, audits, and buying controls, with progress over time.
03
What was the realized return?
Separate verified savings from projected opportunities. Put results next to the cost of membership.
04 / NO FOOTNOTES, NO CASE
The method. The source trail.
Sharp in tone. Careful with the record.
How to read this scorecard
This is an editorial assessment of a leadership record, not an audit, legal finding, or quantitative performance rating. Organizational outcomes cannot automatically be attributed to one executive.
Primary ANA materials establish what ANA reports. The tax return documents finances. Partner-reported benchmarks offer outcome evidence with attribution and sample limitations. Absence of evidence in these records is not proof of absence.
Satirical award titles and imagery are invented commentary. They do not represent actual honors, quotes, or conduct. There is no allegation here of theft, corruption, personal fraud, or universal advertising fraud.
Research cutoff: October 22, 2026. Liodice remained CEO at that date; his announced departure was planned for year-end.
You’re hiring my judgment. My candor. My willingness to ask the uncomfortable question—and stay to help fix the problem.
I’m Jay Mandel, a business consultant, coach, and author of Brand Strategy in Three Steps. My background includes Mastercard and IBM. I work with founders, leaders, and teams on strategy, communication, and delivery.
I help leaders name the real problem, test the claims, and turn the findings into action. Put that thinking to work on your positioning, your customer experience, or the gap between what your team promises and what it delivers. We’ll start with the problem and decide what work would help.
