Founder of Oil-Trading Firm That the U.S. Called ‘Kremlin’s Puppet’ Quits

Gunvor said billionaire founder Torbjörn Törnqvist would leave the commodities-trading company and sell his stake to employees, less than a month after the Trump administration pilloried the firm over its alleged ties to Moscow.

The Geneva-based company said Monday that the 72-year-old Swede would sell his 86.1% stake to approximately 60 employees, and that neither Törnqvist nor any of his family or representatives would have any continued involvement with the firm.