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Tezos Foundation President Johann Gevers Resigns Amid Board Reorganization

Controversial Tezos Foundation President Johann Gevers has formally resigned his post as part of a wider board reorganization.

Gevers, who led the independent Swiss Tezos Foundation, had often been at odds with Tezos founders Arthur and Kathleen Breitman, who control the intellectual property associated with Tezos through their company, Dynamic Ledger Solutions.

The disagreement ultimately stemmed from a contract dispute -- the Breitmans accused Gevers of “self-dealing” -- but the infighting bubbled over into the public sphere following an explosive investigative report, and Gevers accused the Breitmans of attacking his character.

According to a statement issued by the Tezos Foundation, Gevers and fellow board member Diego Olivier Fernandez Pons “voluntarily offered to resign” from the board of directors.

The pair have been replaced by Ryan Jesperson and Michel Mauny, who will join Lars Haussmann -- himself having only recently appointed to the board -- in governing the Tezos Foundation.

Jespersen, along with Polychain Capital’s Olaf Carlson-Wee, had been a founding member of the T2 Foundation, which formed last month in a bid to wrest the funds raised by the project’s then-record initial coin offering (ICO) away from Gevers and the Tezos Foundation. Mauny, a French computer programming researcher, also sat on the T2 Foundation board.

Gevers tweeted that he was “very happy” with the way the resolution.

“After months of very hard work under extremely difficult conditions, I'm very happy that we've achieved a good resolution that optimally serves the interests of the Tezos project and the wider crypto ecosystem,” he said.

Tezos community members, meanwhile, took to social media channels to convey their optimism about the Foundation's new direction, hoping that this development will help put the project -- which has lagged development targets -- back on track.

But though things are looking up for the embattled project, both the Tezos Foundation and Dynamic Ledger Solutions continue to face four class-action lawsuits filed by disgruntled ICO contributors.

Featured image from Shutterstock.

Last modified (UTC): February 24, 2018 12:43 PM

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Josiah Wilmoth @Y3llowb1ackbird

Josiah is the US Editor at CCN, where he focuses on financial markets and cryptocurrencies. He has written over 2,000 articles since joining CCN in 2014. His work has also been featured on ZeroHedge, Yahoo Finance, and Investing.com. He holds bitcoin, but does not engage in day trading. He lives in rural Virginia. Follow him on Twitter @y3llowb1ackbird or email him directly at josiah.wilmoth(at)ccn.com.

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