Tezos Board Reshuffled As Johann Gevers Steps Down

NEWS
Nikhilesh De
Feb 22, 2018 at 16:15 UTC  |  Updated  Feb 22, 2018 at 16:31 UTC

Two board members of the Switzerland-based Tezos Foundation, including its president Johann Gevers, have stepped down from their positions.

The pair will be replaced by Tezos community member Ryan Jesperson – who will take over Gevers' role as president of the board – and researcher Michel Mauny. The new members will join the recently-appointed Lars Haussmann as "the Foundation is preparing itself to assist in the timely launch of the Tezos network," according to a statement released Thursday.

Haussmann, who joined the board late last month, replaced Guido Schmitz-Krummacher, who reportedly stepped down in December.

Gevers said he was "happy" with the changes in a post on Twitter:

During his last few months with the foundation, Gevers battled Tezos founders Arthur and Kathleen Breitman over a contract dispute. The Breitmans claimed Gevers drew up his own contract, granting himself excessive compensation in the process, while Gevers claimed his character was being attacked. Because of the dispute, the funds raised to support Tezos project last year – worth $232 million at then-current prices – have effectively been in limbo since the fall.

As reported earlier this month, the situation deepened when Jesperson launched an alternative organization – called the T2 Foundation – in a bid to take over the funds around three weeks ago. Mauny is also a member of that group.

Jesperson had planned to ask the Swiss authority which oversees such organizations to grant him the legal authority to disburse the funds Tezos raised during its token sale.

In the midst of the dispute, investors filed four different class-action lawsuits against both the Tezos Foundation and Dynamic Ledger Solutions, Inc., the Breitman-owned company that holds the intellectual property tied to Tezos.

Boardroom image via Shutterstock

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ICOsExecutive AppointmentsTezosT2 Foundation