Earlier this year, Mohammed El-Erian, the 56-year-old Chief executive of trillion-dollar investment fund PIMCO, left his job. His resignation started rampant rumors and different theories saying there is an internal conflict in the company. These rumors finally stopped when El-Erian explained himself in Worth Magazine. In an article he revealed that the real reason of his resignation was his 10-year-old daughter.
“About a year ago, I asked my daughter several times to do something – brush her teeth I think it was – with no success. I reminded her that it was not so long ago that she would have immediately responded, and I wouldn’t have had to ask her multiple times; she would have known from my tone of voice that I was serious.
She asked me to wait a minute, went to her room and came back with a piece of paper. It was a list that she had compiled of her important events and activities that I had missed due to work commitments. Talk about a wake-up call.” He wrote.
The list her daughter gave him contained 22 events El-Erian missed –from her daughter’s first day at school and first soccer match of the season to a parent-teacher meeting and a Halloween parade. Even though El-Erian had a good excuse for each missed event such as important meetings and business travel, He immediately felt terrible enough to make him decide to quit his job.
El-Erian is now chief economic adviser at the insurer Allianz, which according to him has a fewer work commitments and shorter working hours.
“I now alternate with my wife in waking up our daughter every morning, preparing her breakfast and driving her to school. I’m also around much more often to pick her up after school and take her to activities. She and I are doing a lot of wonderful talking and sharing. We’ve even planned a holiday together, just the two of us.”