David Baazov to Step Down at Amaya For Now, as Allegations Mount

David Baazov to Step Down at Amaya For Now, as Allegations Mount

David Baazov will require a temporary break from his obligations as the CEO and president of Amaya, the company announced today. The Canadian gaming conglomerate stated in a presser that Baazov, who is dealing with five as-yet-unproven charges of insider trading, will likely be changed in the interim by Rafi Ashkenazi as CEO, and Divyesh Gadhia as president.

David Baazov is taking a leave that is indefinite of from his responsibilities as CEO and chairman at Amaya. The company has conceded that it must take the newest allegations ‘seriously.’

Ashkenazi is the recently appointed CEO of Rational Group, while Gadhia was an Amaya director since 2010. Gahdia also chairs the ‘Special Committee’ of independent directors established on 1 to oversee Baazov’s private takeover acquisition proposal february.

Baazov’s decision is ‘voluntary,’ according to Amaya, and can give him the opportunity ‘to focus play cats slot machine online on preparing an offer to obtain Amaya and to avoid a distraction for the company .

The message is that Baazov’s bid to take the company private is still within the pipeline, however unlikely it now generally seems to an observer that is outside. Meanwhile, the reshuffle within the board room shows that the Board’s faith in its chairman and CEO been shaken by the unexpected broadening of the scope for the AMF investigation.

Baazov ‘Main Provider’ of Privileged Information

Amaya’s formerly stated faith that Baazov would be Continue reading