The news comes in an eventful season for the Amsterdam-based team, which sits fifth in the domestic standings and 28 points behind leaders PSV.
Ajax have suspended leader Alex Kroes over insider trading allegations ahead of his appointment at the Eredivisie club.
Kroes, who took over last month, was announced as chief executive in August 2023, but the Dutch giants said in a statement that the 50-year-old had bought 17,000 shares in the club a week earlier.
A message from the club read: “The supervisory board of AFC Ajax NV has taken the decision to suspend Alex Kroes, CEO and Chairman of the Board of Directors, with immediate effect and in order to definitively end the partnership.
“This resolution was taken after the supervisory board learned that Kroes had purchased more than 17,000 Ajax shares a week before the announcement of his appointment scheduled for August 2, 2023. The supervisory board requested an outside legal opinion, stating that it most likely engaged in insider trading. Insider trading is a criminal offense.
Kroes said in a LinkedIn post that he bought shares “in pieces” from April 2022 to July 2023, before agreeing to join the club.
He said: “Last week, some media outlets asked me about the Ajax shares I have. Among other things, I asked if I had earned them by signing cash with Ajax or if I had bought them myself. This is the latter case. I bought all of Ajax’s shares myself.
“At the time I still didn’t agree with Ajax, but, due to my own intentions, I had a feeling about it. I see it as a positive sign to radiate confidence in the club and in the shareholders. Be a part of it – literally and figuratively.
“I think you radiate trust with your shareholders and stakeholders if you buy stocks yourself and take monetary risks. ” Skin in the game,” as they say. »
The news comes in a turbulent season for the Amsterdam-based team, which sits fifth in the national standings (28 points behind leaders PSV) and is in danger of missing out on next season’s European festival – anything that didn’t take place in 1990. 91.
Michael van Praag, chairman of the supervisory board, added: “We are deeply dismayed by what has happened at Ajax as it is negative for the club and for everyone who cares about it.
“Alex Kroes’ moves are not what Ajax represents. The timing of the acquisition of its shares indicates insider trading. Such a violation of the law can be tolerated in a publicly traded company, especially in the case of the CEO.
“After careful consideration, the Supervisory Board concluded that Alex’s position as director of Ajax is untenable. I would like to emphasize that the technical policy will continue with the Americans in their position and on the path that Ajax had already followed with Alex.
The Supervisory Board of AFC Ajax NV should promptly suspend Alex Kroes, CEO and Chairman of the Board of Directors, and intends to permanently end the collaboration.
– AFC Ajax (@AFCAjax) April 2, 2024