Stacy Schaus will retire as executive vice president and defined contribution practice leader at Pacific Investment Management Co LLC, effective Nov. 21, confirmed PIMCO spokeswoman Agnes Crane.
Ms. Schaus' departure coincides with a request for dismissal of a lawsuit she filed against PIMCO in April alleging age and sex discrimination regarding pay and promotion opportunities.
The dismissal request was filed Thursday in Orange County Superior Court in Santa Ana, Calif., by an attorney for Ms. Schaus, but gave no reason. Ms. Schaus could not be reached for comment, nor could her attorneys.
Ms. Crane provided no additional information.
"We thank Stacy for her 12 years of service to PIMCO as well as to our clients and we wish her the best in her future endeavors," said a Friday memo to employees from Thomas Otterbein, managing director and head of the institutional client management group in the Americas for PIMCO.
"As you all know, it has been well publicized that PIMCO and Stacy had disagreements over certain matters, but we are pleased that we have resolved these amicably," Mr. Otterbein wrote in the memo, obtained by Pensions & Investments.
In her complaint, Ms. Schaus said PIMCO had launched "a series of retaliatory attacks" after she had accused the firm of sex and age discrimination, alleging PIMCO demoted her and cut her pay.
PIMCO said in a court filing that Ms. Schaus, was a well-paid executive but an "ineffective" and poor manager. Ms. Schaus "has not advanced to other roles due to a long history of poor performance as a manager of others and resistance to feedback and change," said the document in the case of Schaus vs. Pacific Investment Management Co. et al.
