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Shares of
AMAYA INCAYA were trading higher by more than 13 percent on Tuesday after the company
announced that its CEO has agreed to take a voluntary leave of absence.
Amaya's CEO, David Baazov, will take an indefinite paid leave of absence from the company, effective immediately. The executive faces an investigation for insider trading by Quebec's securities regulator.
Related Link:
Amaya Down 22% After CEO Charged With Insider Trading In Canada
Amaya's Board of Directors also named Divyesh (Dave) Gadhia as Interim Chairman while Rafi Ashkenazi will serve as Interim CEO. Gadhia has been a director of the company since 2010 while Ashkenazi currently serves as CEO of the Rational Group, Amaya's operating business.
Mr Baazov provided the following statement: "As always, I continue to be dedicated to doing the right thing for Amaya and all its stakeholders. I believe that stepping down in the short term will help to avoid distraction for the company and its management while I vigorously contest all allegations made against me and pursue my bid to acquire the company."
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Posted In: NewsManagementAmayaDavid BaazovDavid Baazov Insider TradingDivyesh Gadhiagaming stocksRafi Ashkenazi
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