Ajax to Fire Chief Executive on Insider-Trading Allegations (1)

AFC Ajax NV suspended its Chief Executive Officer Alex Kroes and said it plans to dismiss him after “strong indications” of insider trading.

The club alleges that Kroes, who was also the chairman of Ajax’s executive board, purchased over 17,000 shares of the club a week before his appointment was announced on August 2.

“Kroes’ actions are not in line with what Ajax stands for,” said Michael van Praag, chairman of the club’s supervisory board, in a statement Tuesday. “The timing of his share purchase indicates insider trading. Such a violation of the law cannot be tolerated by ...