CEO 'Shamed' by Daughter Into Quitting $100M Job

Ex-Pimco chief Mohamed El-Erian says she wanted him around more
By Neal Colgrass,  Newser Staff
Posted Sep 28, 2014 3:00 PM CDT
CEO 'Shamed' by Daughter Into Quitting $100M Job
In this Oct. 25, 2010 file photo, former Pimco CEO Mohamed El-Erian speaks in New York City.   (AP Photo/Kathy Willens, File)

The former CEO at one of the world's most powerful investment firms says his daughter shamed him into quitting, Mashable reports. Mohamed El-Erian, who once ran Pimco, says he was struggling to command respect from his 10-year-old daughter at home. "I asked my daughter several times to do something—brush her teeth, I think it was—with no success," he writes at Worth. He reminded her that she would have once "immediately responded" and "known from my tone of voice that I was serious." She replied by handing him a list of the 22 events he had missed in her life, including her first school day, her first soccer game, and a parade for Halloween. At first he was defensive about his busy schedule, he says, but then he got it.

"As much as I could rationalize it—as I had rationalized it—my work-life balance had gotten way out of whack," he writes. "I was not making nearly enough time for her." So in March, he quit the job that had earned him $100 million in 2011 "for a portfolio of part-time jobs" that gave him free time for his daughter. "So far, it's been the right decision for me." But the Wall Street Journal paints a different picture of the Newport Beach, Calif., firm, saying El-Erian clashed openly with Pimco co-founder Bill Gross and left as their relationship deteriorated. El-Erian reportedly snapped at him in front of over a dozen co-workers last year. Gross himself quit Friday to run a small bond fund, reports the Journal, saying only that it was "the right fit at the right time in my career—and my life." (Read about another CEO who quit to be with his "amazing" family.)

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