Ajax wants to fire Kroes because he bought 17,000 shares just before he was announced as the new general manager of Ajax. Because the appointment of a new director is price-sensitive information, Kroes should not have purchased shares at that time. Insider trading is prohibited.
Bought Ajax shares as AZ director
In a statement, Kroes himself writes that he purchased a total of 42,500 Ajax shares in the period from April 6, 2022 to July 26, 2023.
“On December 31, 2022, I already had 20,000 pieces. I purchased another part in the months of April, May and June of 2023. I purchased the last part (approximately 17,500 pieces) on July 26, 2023, shortly before my appointment on August 2. 2023, purchased,” Kroes writes.
Forbidden
Remarkable, because since December 1, 2022, Kroes has been a board member at competitor AZ. At the time he started working there, he owned a large number of shares in Ajax and he continued to buy more during his employment at AZ.
This is prohibited according to AZ’s statutes and is grounds for dismissal. The club prohibits AZ directors from being directly or indirectly affiliated as a shareholder with another Dutch or foreign professional football organization.
AZ is surprised
AZ was not aware that Kroes was buying shares from the competitor during his employment, according to a brief response from the club.
“AZ has taken note of the issue between Alex Kroes and Ajax. For us, what now appears to be emerging is also surprising,” a spokesperson for the Alkmaar football club said.
It is still unclear whether AZ will take any further steps towards Kroes. “Because there is now – apparently – an investigation by the AFM, we refrain from further substantive comment at this time.”
Alex Kroes did not respond to repeated requests for contact from RTL News today.
Rough departure
Kroes did not leave his old employer very well anyway. When Kroes was announced by Ajax as Edwin van der Sar’s successor as general manager, it also came as a surprise to AZ, where he had worked until then.
At AZ, Kroes had a non-competition clause, which prevented him from working as a director at another club for at least a year. Ultimately, the club reached an agreement with Kroes: he would be allowed to join Ajax from March 15 and he had to transfer 50,000 euros to his old employer.
