Ajax Amsterdam has suspended newly appointed CEO Alex Kroes (49) over allegations of insider trading involving the club’s shares, the club’s supervisory board announced on Tuesday.
The board revealed that Kroes had purchased more than 17,000 Ajax shares a week before his appointment was officially announced on August 2, 2023. They stated that external legal advice suggests he likely engaged in insider trading.
Kroes, who has not commented on the suspension, intends to seek judgment from the Dutch financial watchdog AFM regarding his share acquisitions.
This suspension adds another twist to Ajax’s turbulent season, which has seen changes in management and a brief stint at the bottom of the Eredivisie table. Despite significant investments in new players, the club currently sits in fifth place, 28 points behind league leaders PSV Eindhoven.
Kroes, a former director at Eredivisie clubs Go Ahead Eagles and AZ Alkmaar, began his role as CEO and chairman of the board at Ajax on March 15.
