After more than seven months of infighting Johann Gevers the president of the Tezos Foundation stepped down from his post Thursday following a long dispute with Tezos co-founders, Kathleen Breitman and her husband Arthur Breitman. This clears the way for Tezos to release the digital Tezos tokens, known as “tezzies,” The Tezos (pre-launch tokens ) price surged more than 10% Thursday after the announcement.
“TEZOS ACHIEVES IMPORTANT MILESTONE,” Gevers posted on Twitter as he shared the news of the foundation reorganization Thursday. “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.”
Tezos had told Fortune last fall that it was targeting a February release date for the Tezos coins, a deadline that now seems possible. Also Tezos CEO Kathleen Breitman Speaking at a UCLA event Feb. 18, said the company was planning on “going rogue” and releasing the tezzies “in the next few weeks.”
Ryan Jesperson, a former fintech startup executive is set to replace Gevers as president of the Tezos Foundation, he will be relocating to Zug, Switzerland for the job. Jesperson, who invested in the Tezos ICO, was responsible for an international petition to oust Gevers and, set up a rival Swiss association, the T2 Foundation, to pursue the launch of the Tezos network.
Jesperson and Michel Mauny, who had both served on the board of the new T2 Foundation, will now join the board of the Tezos Foundation, replacing Gevers as well as Diego Olivier Fernandez Pons. “With the appointment of the two new members to the Board, the Foundation is preparing itself to assist in the timely launch of the Tezos network,” the Tezos Foundation said in a statement.
The resolution of the dispute with Gevers also takes some pressure off Tezos, which had in the meantime become embroiled in other legal problems as a result of the delays and ongoing battle. Tezos has been deflecting rumors of an investigation into the company by the U.S. Securities and Exchange Commission, and also has been hit with class action lawsuits alleging securities fraud as a result of the delays.
Investors are now watching to see if Tezos and the new leaders of its governing body can deliver on their promises.