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Ajax chief executive suspended over insider dealing allegations

Posted : 02 April 2024

Ajax's tumultuous season takes another twist as their chief executive, Alex Kroes, is suspended by the club over suspected insider dealing just weeks after assuming the role.

 

Kroes, who took up the position in March, faces termination of his contract after it was revealed that he purchased over 17,000 shares in Ajax a week before his intended appointment announcement, a move deemed likely as insider trading by the club.

 

The decision to suspend Kroes comes after Ajax conducted an internal investigation, leading to deep dismay within the club and a swift response from the supervisory board.

 

Chairman Michael van Praag condemned Kroes' actions, stating they were not in line with Ajax's values and constituted a violation of the law, especially given his position as CEO.

 

Despite Kroes' assertion that the share purchase was an expression of faith in Ajax, the club deems his position untenable.

 

The development adds to a challenging season for Ajax, marked by managerial and administrative upheaval. Sporting director Sven Mislintat and manager Maurice Steijn both faced short-lived stints before their dismissals, contributing to Ajax's struggles in the Eredivisie.

 

With Kroes' suspension, the board members will temporarily assume his responsibilities, pending an Extraordinary General Meeting of the Shareholders to discuss his dismissal, as Ajax seeks stability amidst uncertainty.

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