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'I thought I knew him better': Gross breaks silence on El-Erian split
by Dylan Lobo on Apr 11, 2014 at 07:21
Pimco’s Bill Gross has described his ‘extreme disappointment’ at the sudden departure of his chief executive Mohamed El-Erian last year.
The Pimco founder broke his silence in an interview with Bloomberg: ‘He [El-Erian] hasn’t spoken up, and that’s a mystery to us and quite frankly an extreme disappointment,’ Gross (pictured) said.
‘He simply said that he wasn’t the man to take the company forward. And he constantly repeated that without explaining it. I thought I knew him better’
El-Erian, who was widely seen as the successor to Gross, shocked the investment world when he walked out on the firm.
Subsequent reports led by the Wall Street suggested there were severe tensions between the pair, referring to Gross’ autocratic tendencies.
Gross told Bloomberg he always saw himself as a ‘family man’ and ‘leading but not forcing’ people to do anything.
‘I think for the most part I’m the person that I thought I was, but I’m willing to say that in this environment, in this new generation with our – with our deputy CIOs that it’s important to be less of a – of a strong leader and – and more of an inclusive type of leader.’
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