The new CEO of Ajax is suspected by the commissioners of having purchased Ajax shares when he already knew that he would become the new general manager.
With the arrival of Kroes, on whom everyone had extremely high expectations, peace seemed to return, but for the time being the opposite is true. It is currently unclear whether the upcoming suspension is a precursor to his dismissal or whether an investigation will be conducted.
“We are very unpleasantly surprised that this is now happening to Ajax, because this is very bad for the club and for everyone who cares about the club,” says supervisory board chairman Michael van Praag in a press release.
“The actions of Alex Kroes are not compatible with what we stand for with Ajax. The moment at which he bought the shares means that he was trading with insider information. A listed company cannot tolerate such a violation of the law, especially if it concerns the CEO. After careful deliberation, the supervisory board has come to the conclusion that Alex’s position as a board member of Ajax is not tenable. I think it is important to add that the technical policy will continue with the people we have for it and on the path that Ajax has already taken with Alex.”
Also read: Alex Kroes was also in violation at AZ: he was not allowed to be a shareholder of Ajax at all
Kroes will submit his controversial purchase of Ajax shares last summer to the stock exchange watchdog AFM. This is what the general manager of the Amsterdam club says after the supervisory board suspended him. According to the Amsterdam club, Kroes purchased 17,000 shares, worth approximately 190,000 euros, shortly before his appointment. That is insider trading, according to Ajax, which wants to dismiss the director who started in March.
“My moral compass says that I cannot simply accept this decision of the supervisory board,” Kroes said in a statement on LinkedIn. “I will now independently go to the AFM to present my matter in order to arrive at an independent judgment.”
Supporters’ association stunned
“It is inevitable and understandable that the supervisory board is now intervening,” the supporters’ association said in a statement. “With Kroes, we thought we could finally set sail for a new future for the club. We had good initial contacts and believed in the vision that Kroes was developing with us,” said a statement.
The supporters’ association understands that the supervisory board has intervened. “If there is any trace of a conflict of interest, you should not work for Ajax. We must expect that there are capable people working at the top of Ajax, who are independently committed to the club.” SV Ajax wants Kroes to explain to the supporters. “Supporters deserve the honest story.”
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Ajax shares fell briefly on the Amsterdam stock exchange
After the suspension, Ajax shares fell briefly on the Amsterdam stock exchange. Ajax was 1.5 percent in the red in early trading with the local funds on the Damrak. Then that loss was wiped away and the price was unchanged.