AFC Ajax Suspends CEO Over Insider Trading Allegations
AFC Ajax has suspended chief executive Alex Kroes over allegations of insider trading before his appointment at the Eredivisie club. The Dutch giants claimed that Kroes purchased 17,000 club shares a week before his official announcement as chairman and CEO in August 2023.
Reason for Suspension
The Supervisory Board of AFC Ajax NV decided to suspend Alex Kroes immediately after learning about his share purchase activities. The board intends to terminate the collaboration permanently due to the serious nature of the allegations.
Statement from AFC Ajax
In a statement, the club expressed its disappointment and emphasized that insider trading is a criminal offense. The decision to suspend Kroes was made following external legal advice that confirmed the likelihood of his involvement in insider trading.
Kroes’s Response
In a post on LinkedIn, Kroes explained that he had purchased shares before reaching an agreement with Ajax, aiming to show confidence in the club and its stakeholders. He defended his actions as a way to demonstrate commitment and financial risk-taking.
Consequences and Club’s Stance
The news of Kroes’s suspension comes at a challenging time for AFC Ajax, who are currently struggling in the domestic league and facing potential exclusion from European competitions. The chairman of the supervisory board expressed deep dismay over the situation and stated that Kroes’s actions do not align with the club’s values.