'Cannot tolerate such a violation of law' - Huge embarrassment for Jordan Henderson's Ajax as they're shockingly forced to suspend CEO Alex Kroes just two weeks into his new job

Kroes, who assumed the role of CEO and chairman of the board on March 15, was chosen to succeed Edwin van der Sar, who resigned from his position as general director and CEO in May 2023. The decision to suspend Kroes came after Ajax discovered that he had purchased over 17,000 shares in the club just a week before his official appointment on August 2, 2023. After consulting legal experts, the club believes that Kroes may have engaged in insider trading, a serious breach of trust and legality.

A statement put out by the club reads: "We are deeply dismayed that this has occurred at Ajax, as it is highly detrimental to the club and everyone who holds it dear to them. Alex Kroes' actions are not in line with what Ajax stands for. The timing of his share purchase indicates insider trading. Such a violation of the law cannot be tolerated by a publicly listed company, especially when it involves the CEO. After careful consideration, the supervisory board has therefore concluded that Alex's position as a director of Ajax is untenable. I want to emphasise that the technical policy will continue with the individuals in place and on the path Ajax was already on with Alex."

The suspension of Kroes adds to the sporting turmoil faced by Ajax during a challenging season. Currently fifth in the Eredivisie, they are eight points adrift of fourth place and European qualification.

Moreover, their appointments off the pitch have also failed to live up to expectations. Sven Mislintat's brief tenure as sporting director ended abruptly after just 129 days in September 2023 due to a conflict of interest investigation. He succeeded Marc Overmans, who was forced to submit his papers amid allegations of inappropriate conduct, which involved sending inappropriate messages to female staff members. After Overmars departed, club shares took a tumble amid growing doubts among stakeholders.

Meanwhile, Maurice Steijn, the predecessor to current manager John van 't Schip, was asked to leave after he oversaw the club's worst run in 54 years.

Kroes has put out a statement of his own in response to Ajax's decision, which reads: "I have been an Ajax player since I was nine. I have always been involved in the club, as a player and as a member. In my heart and later also through these shares. Shares that I bought out of involvement in the club. Out of confidence in the club. Not to make quick money but as a positive signal to all stakeholders.

"I have always said in recent times that I want all the attention to be on Ajax, not on Alex. But my moral compass says that I cannot simply accept this decision of the Supervisory Board. I will now independently go to the AFM to present my matter in order to arrive at an independent judgment. All this causes unrest for Ajax and I sincerely regret that. Hopefully, this period will be over soon. From today onwards, with a heavy heart, I will watch from a distance what is happening at Ajax. Ajax must become Ajax again."

In response to Kroes' suspension, the board members will assume his responsibilities temporarily, with Michael van Praag overseeing operations as the delegated commissioner. The Ajax board plans to convene an Extraordinary General Meeting of the Shareholders (EGM) to discuss Kroes' dismissal and chart a new course for the club.

Ajax are due back in action against Go Ahead Eagles on April 4, with Jordan Henderson and Co aiming to secure back-to-back wins after a 3-1 victory at PEC Zwolle last weekend, which snapped a four-match winless run in all competitions.