Ajax faced more problems in their troubled season as they suspended their newly appointed CEO, Alex Kroes, on Tuesday. The club plans to terminate his employment due to suspicion of insider trading involving Ajax shares.
Kroes, who joined Ajax recently to replace Edwin van der Sar, is accused of insider trading. He expressed disagreement with the decision on LinkedIn.
Ajax hoped Kroes would help the club recover from a tough season that saw them struggle in the Eredivisie and fire their coach, Maurice Steijn. Though they’ve climbed to fifth place, they’re far behind the league leader, PSV Eindhoven.
Michael van Praag, the supervisory board chairman, expressed disappointment over the situation, calling it harmful to the club. The club discovered that Kroes purchased over 17,000 Ajax shares just before his appointment was announced. Legal advice suggests this could be insider trading, a serious offense.
Kroes admitted to buying around 17,500 Ajax shares before his appointment, seeing it as a way to show confidence in the club. Edwin van der Sar stepped down last year, and his former colleague Marc Overmars left his role as director of football due to misconduct.
