David Baazov takes a break that is temporary his duties as the CEO and chairman of Amaya, the company announced today. The gaming that is canadian said in a presser that Baazov, who is dealing with five as-yet-unproven charges of insider trading, will be replaced in the interim by Rafi Ashkenazi as CEO, and Divyesh Gadhia as president.
David Baazov is taking an indefinite leave of absence from his responsibilities as CEO and chairman at Amaya. The company has conceded it must take the latest allegations ‘seriously.’
Ashkenazi may be the recently appointed CEO of Rational Group, while Gadhia is an Amaya director since 2010. Gahdia also chairs the ‘Special Committee’ of independent directors established on February 1 to oversee Baazov’s private takeover acquisition proposal.
Baazov’s choice is ‘voluntary,’ according to Amaya, and will give him the opportunity ‘to focus on preparing an offer to get 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 seems to an outside observer. 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 range associated with AMF investigation.
Baazov ‘Main Supply’ of Privileged Information
Amaya’s previously stated faith that Baazov would be exonerated had been based,