Amaya has announced that its chief executive, David Baazov, is taking an indefinite paid leave of absence.
According to the company, he is taking leave voluntarily to focus on preparing an offer to acquire Amaya and to avoid creating a distraction while he responds to allegations of insider trading by the Autorité des Marchés Minanciers.
While Baazov will remain a member of Amaya’s board of directors, the board has appointed Divyesh Gadhia as interim chairman and Rafi Ashkenazi as interim CEO.
Gadhia has previously served as the chief executive officer and executive vice chairman for Gateway Casinos and Entertainment. Ashkenazi is currently CEO of the Rational Group, Amaya's operating business that includes the PokerStars and Full Tilt brands.
In a statement, Baazov said: "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."
