Amaya CEO, David Baazov, is taking a voluntary and indefinite paid leave of absence from the company effective yesterday. The CEO and Chairman of Amaya Inc., owner of PokerStars the world’s largest online gambling site, has taken the leave of absence to focus on his response to insider trading allegations made against him by Quebec’s securities regulators. As mentioned in our previous article, Baazov faces five counts of insider trading for “aiding with trades while in possession of privileged information.”
Stepping in for David Baazov is Divyesh (Dave) Gadhia as Interim Chairman, and Rafi Ashkenazi as Interim CEO who were both appointed by the Board. Mr. Ashkenazi is currently CEO of the Rational Group, Amaya’s operating business including PokerStars and Full Tilt brands. Dave Gadhia has served as Amaya Director since 2010.
David Baazov commented on the decision to step down stating, “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.”
Baazov will remain on Amaya’s Board of Directors. He has denied any wrongdoing and is confident he will be found innocent of the charges against him.
