Serguei Popov and Sergey Ivancheglo are on Tuesday, 14.08., in the Board of Directors of the IOTA Foundation. Thus, the dispute about their inclusion, had escalated in the last week, to a temporary end. Whether with this solution, however, all parties are satisfied, may be doubted.
In the last week, we reported of a dispute within the senior management of the IOTA Foundation. Due to a Leak that was worn by one of the IOTA-founder, Sergey Ivancheglo, to the Public, were all the witnesses of the inner division of the Board of Directors. In Essence, it was a question that David Sønstebø wanted to include the two missing co-founder Sergey Ivancheglo and Serguei Popov in the Board of Directors, and from three to five heads expand. Dominik Schiener, the Chairman of the Board, had resisted to the last, however, had to eventually give in, however small.
Memorandum of Understanding: Ivancheglo and Popov on Board
In the Memorandum of understanding, the five founder issued in the Wake of the Leaks, they announced that they had reached agreement on a Memorandum of Understanding. So the two missing members should be included in a quick procedure in the Board of Directors.
As David Sønstebø, announced on Tuesday the official Medium channel of the IOTA Foundation is completed, this step is now. He welcomed both new members officially. Thus, the Board of Directors now consists of five IOTA founders. From unexplained reasons, had been left Ivancheglo and Popov in the creation of the Foundation first.
Dominik Schiener the big loser?
The Chairman of the Board, Dominik Schiener, is not likely to be the result of compromise, just happy that he had tried but in the run-up to, the appointment of the two missing members delay. As the Leak, he feared a shift in power to the detriment of his Person. He suspected Ivancheglo and Popov, to act in the case of contentious decisions, as the majority buyer for David Sønstebø, on whose Initiative to the Board were included.
Apparently, Schiener had no other choice than submitting to the pressure of the other Board members, after Ivancheglo and Sønstebø had him threatened with public calls for his resignation. At least this Option now seems off the table – Dominik Schiener remains Chairman of the Board of Directors. As trust is fully in shaping the future collaboration, we need to wait and see.
The IOTA course, however, the entire market situation – in the last 24 hours recovering. He is after a Plus of over 15 percent and now back at $ 0.45.