Proximus CEO Dominique Leroy will not join KPN as planned on 01 December, the Dutch carrier announced, saying Leroy is no longer a candidate for CEO or chairman of the management board. The news comes after the announcement of an investigation by the public prosecutor of Brussels into possible insider trading by Leroy, who reportedly sold shares in Proximus after coming into contact with KPN about a new job. KPN said it does not know how long the procedure will take in Belgium. This “unclear and unpredictable” situation is not in the interest of KPN and its stakeholders, the company said, explaining the reasons behind its withdrawal of Leroy’s appointment.
As a result, the Extraordinary General Meeting (EGM) of shareholders - scheduled for 28 October will not take place. Joost Farwerck will continue, as announced on 5 September, to temporarily assume the position of chairman of the management board and executive committee.
KPN supervisory board chairman Duco Sickinghe said the decision was difficult to “given the track record of Mrs. Dominique Leroy as a very accomplished executive. However, the uncertainty around timing results in a situation, which the Supervisory Board considers not in the interest of KPN. We wish her all the best."
