Times of Malta

Ajax suspend CEO over insider trading suspicions


Ajax announced yesterday they were suspending CEO and chairman Alex Kroes on suspicion of insider trading, piling more woe on the Dutch giants who have endured a horror season.

The club said they had learned that Kroes bought more than 17,000 Ajax shares a week before his intended appointmen­t was announced on August 2, 2023.

“The Supervisor­y Board sought external legal advice, which indicates that he likely engaged in insider trading. Insider trading is a criminal offence,” the club said in a statement.

The club’s supporters’ associatio­n said the news came as a “bombshell” to already suffering fans.

“The misery at Ajax continues and cannot be stopped... It is almost impossible to comprehend,” the associatio­n said in a blog post.

Kroes himself admitted it was “not the wisest decision” but said he had intended to send a “positive signal to radiate confidence in the club”.

He said he would not accept the decision and regretted the damage it was causing to the club.

The latest developmen­ts are yet another distractio­n for Ajax, which suffered the worst-ever start to a Dutch top flight season, briefly propping up the Eredivisie table, with fans’ frustratio­n boiling over into violence.

The club of Johan Cruyff, Marco van Basten and Dennis Bergkamp, Ajax have fought back somewhat since those dark days but still sit in an unfamiliar fifth place in the Dutch top flight.

A humiliatin­g 28 points behind arch-rivals PSV Eindhoven, four-time European Cup champions Ajax have some work to do to even qualify for European football next season.

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