From PIMCO.com:
September 26, 2014, (Newport Beach, CA): PIMCO, a leading global investment management firm, announced that Co-founder and Chief Investment Officer (“CIO”) William H. Gross, has resigned and will leave the firm, effective immediately.
The firm has a succession plan in place and its Management Board, comprised of its Managing Directors, will confirm shortly the election of a new Chief Investment Officer. Relevant portfolio management assignments will also be announced at that time.
Said Mr. Hodge: “While we are grateful for everything Bill contributed to building our firm and delivering value to PIMCO’s clients, over the course of this year it became increasingly clear that the firm’s leadership and Bill have fundamental differences about how to take PIMCO forward...”
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Link: http://www.pimco.com/EN/PressReleases/Pages/PIMCO-CIO-William-H-Gross-to-leave-the-firm.aspx
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