He is a typical rich raider. He takes what he can from the company. He gets a fat salary and bonuses and stock options and gets paid high. High flying financial advisors should all be prosecuted. I am sure he messed up the company real bad and he deserves to lose his cushy job.
It seems like there has been quite a bit going on at PIMCO. I also would leave for a less stressful job if I knew I had one available to me. No one wants to be miserable and worried while they are at work. I am not surprised at all.
The Recent turmoil at Pimco expectantly triggered senior management exits. Following the client funds outflow, El-Erian - former CEO - leave and the ongoing regulators investigation on doubtful accounting practices further negative changes should be expected. Let`s hope Pimco doesn`t become next Enron. Potentially the situation may end with a happy ending for some of the competitions. A possible merger with a competitor or some type of government backing can ease the financial markets and discontinue speculations.
There are reports that Bill Gross would have been pushed out of Pimco if he hadn't chosen to leave. When there is turmoil, people always look to replace someone at the top and call it good. With those involved looking for someone to blame for the recent problems, it can hardly be said that his exit is surprising.