Former CEO David Baazov Permanently Out at Amaya and PokerStars | PokerNews
In the wake of charges of insider trading, Amaya co-founder and previous Chief Executive Officer David Baazov has "resigned all positions throughout the company," The Canadian Press reported today.
Baazov stepped aside for a voluntary leave of absence in late March after Quebec securities regulator Autorité des Marchés Financiers (AMF) leveled five charges against Baazov for "aiding with trades while in possession of privileged information, influencing or trying to influence the market price of the securities of Amaya inc., and communicating privileged information." A VARIETY OF others were also charged with insider trading within the sting, including Baazov's brother, Josh.
"These allegations are false and that i intend to vigorously contest these accusations," David Baazov said on the time. "While I'M deeply disappointed with the AMF's decision, I'M highly confident I'LL BE found innocent of all charges."
Rafi Ashkenazi, who was made interim CEO, will take over the location permanently for the parent company of PokerStars. Interim Chairman of the Board Divyesh Gadhia may also have the interim tag removed.
"Amaya thanks Mr. Baazov for his contributions to Amaya since its inception and thru its rapid growth, and appears forward to Mr. Ashkenazi’s continued success in leading the execution of Amaya’s strategy," the corporate said in a press release.
Baazov also left comment within the same release:
“I am happy with my contributions in building Amaya into the successful company it's today, and remain supportive of its strategy and management.”
While the book might appear closed for Baazov at Amaya, there still remains the problem of his stated intention to take over the publicly traded company via an all-cash offer. SBCNews reported that, per Amaya, "discussions are still advancing" on that front.
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