Ex-PwC Blockchain Expert To Join Tezos Foundation As New CFO
Tezos Foundation has announced that Roman Schnider, an expert who formerly worked on PricewaterhouseCoopers (PwC) Switzerland’s blockchain project, will join as the non-profit’s new chief financial officer (CFO).
Schnider is set to succeed Eelco Fiole as the Zug-based firm’s CFO, with the appointment taking effect this summer. The ex-PwC blockchain expert will be taking up the role nearly six months after Fiole, an investment manager and financial ethics expert, joined the company in the same position.
Fiole joined Tezos at a time the firm was undergoing what they called executive expansion. Tezos President Ryan Jesperson noted then that the move marked an essential step that saw the company bolster its in-house expertise.
Tezos set a record when it raised $232 million during its July 2017 initial coin offering (ICO). The platform, which offers a distributed p2p network, has since become one of the leading in the growing blockchain community. However, the firm has also been beset with conflict, both internally and from external sources.
The team had to delay its token distribution as a result of internal miscommunication and faced up to three different lawsuits relating to the token offering.
In November 2017, three court filings alleged that Tezos had misled the public and committed securities fraud by selling the XTZ tokens though it had not registered them as securities.
The incoming CFO first interacted with the Tezos protocol last year, when in July 2018, the crypto platform hired him to carry out an independent, external audit. It was reportedly the very first time any of the top U.S. accounting firms had collaborated with a large-scale blockchain-based company.
Schnider is joining Tezos after spending more than 14 years working as a financial director at PwC. In 2016, he helped launch the firm’s blockchain and crypto assurance department.
Tezos Foundation’s president Jesperson noted in a statement that Schnider’s experience makes him the ideal candidate to head the finance and operations team. Jesperson added that Roman understands the various “opportunities and challenges” that face blockchain projects.
The outgoing CFO will leave Tezos having joined it after working in the financial services industry for over twenty years. It is during this period that he co-founded Alpha Governance Partners, a global fiduciary services firm that focuses on risk-governance.
Fiole hasn’t disclosed his next move after he exits Tezos.
Tezos (XTZ) currently trades at $1.25 and has a market cap of $827 million according to XBT.net.
Disclaimer: This is not investment advice. Cryptocurrencies are highly volatile assets and are very risky investments. Do your research and consult an investment professional before investing. Never invest more than you can afford to lose. Never borrow money to invest in cryptocurrencies.