First he left as CEO, then he sold his 64 million Swiss franc stake. Now, Jan Schoch and Leonteq have severed their last remaining link – acrimoniously.
The Swiss derivatives boutique didn't want Jan Schoch as CEO anymore, but the 40-year-old co-founder was to stay at Leonteq's disposal as a consultant.
Schoch dumped his Leonteq stock last week, a move which tilted the balance among major shareholders towards an associate, Lukas Ruflin. Now, Schoch and Leonteq appear to have severed the last ties they had – the former CEO will no longer consult for the firm.
Unacceptable Demands
«Jan Schoch has left Leonteq,» a spokesman told Swiss business publication «Finanz und Wirtschaft» (in German). «He left after an agreement on the detailed description and modalities of his role could not be reached.»
Leonteq's board is apparently miffed that Schoch sold down his Leonteq stake. The former CEO also apparently made unacceptable demands on work hours, reporting obligations, and compensation.
