After taking a leave of absence in March due to insider trading charges, David Baazov has now announced he will no longer be holding any position within Amaya Gaming. On Friday, Amaya Gaming announced that Rafi Ashkenazi, the interim CEO who had taken the place of Baazov when he took leave, will now be the permanent CEO of the company.
In the press release, Baazov commented on his resignation stating that he was proud of his contributions in building the Amaya Gaming Company into what it is today and will continue to be supportive of the company’s strategy and management.
Baazov stepped down from the position of CEO after five charges of insider trading were issued by the Autorité des Marchés Financiers (AMF). Several others also faced charges including Josh Baazov, David’s brother. David Baazov has continued to maintain his innocence ever since the charges were first filed. The charges stem from when Amaya Gaming acquired the Rational Group for $4.9 billion. Baazov was accused of using private information when trading shares of the company from late 2013 to mid-2014.
In the press release, Amaya Gaming thanked Mr. Baazov for his contributions to the company since its inception and through its rapid growth. The company now looks forward to the continued success of Mr. Ashkenazi as he leads the execution of Amaya’s strategy.