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Ajax football club announces suspension of new CEO over allegations of insider trading
(MENAFN) Ajax announced on Tuesday that they have suspended their recently appointed CEO, Alex Kroes, amidst allegations of insider trading, with intentions to terminate his employment.
"The Supervisory Board of AFC Ajax NV has decided to suspend Alex Kroes, CEO and chairman of the board, with immediate effect and intends to terminate the collaboration permanently," a statement released by the team mentioned.
"This decision was made after the Supervisory Board learned that Kroes purchased over 17,000 shares of Ajax a week before his intended appointment was announced on August 2, 2023. The Supervisory Board sought external legal advice, which indicates that he likely engaged in insider trading. Insider trading is a criminal offence," it further mentioned.
Michael van Praag, the chairman of the Supervisory Board, expressed profound dismay regarding the alleged insider trading incident at the Amsterdam club.
"Alex Kroes's actions are not in line with what Ajax stands for," van Praag declared.
"The timing of his share purchase indicates insider trading. Such a violation of the law cannot be tolerated by a publicly listed company, especially when it involves the CEO," he further mentioned.
Kroes, aged 49, assumed his role at Ajax on March 15 of this year, following his nomination as the new CEO and chairman of the board in August 2023.
"The Supervisory Board of AFC Ajax NV has decided to suspend Alex Kroes, CEO and chairman of the board, with immediate effect and intends to terminate the collaboration permanently," a statement released by the team mentioned.
"This decision was made after the Supervisory Board learned that Kroes purchased over 17,000 shares of Ajax a week before his intended appointment was announced on August 2, 2023. The Supervisory Board sought external legal advice, which indicates that he likely engaged in insider trading. Insider trading is a criminal offence," it further mentioned.
Michael van Praag, the chairman of the Supervisory Board, expressed profound dismay regarding the alleged insider trading incident at the Amsterdam club.
"Alex Kroes's actions are not in line with what Ajax stands for," van Praag declared.
"The timing of his share purchase indicates insider trading. Such a violation of the law cannot be tolerated by a publicly listed company, especially when it involves the CEO," he further mentioned.
Kroes, aged 49, assumed his role at Ajax on March 15 of this year, following his nomination as the new CEO and chairman of the board in August 2023.
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