Iain Morris 9/20/2019 1 Comment
Also in today's EMEA regional roundup: Google to invest in Europe; Three pumps up the bandwidth; euNetworks adds fiber in Milan and Madrid.
- Unpopular with staff, departing Proximus CEO Dominique Leroy appears to have incurred the displeasure of Belgian authorities over her sale of company shares only weeks before she quit her job to become CEO of Dutch incumbent KPN. Leroy is now under formal investigation for insider trading, according to a report from Belgian journal Knack, which cites "well-informed sources" close to the matter. According to the story, she has also directly confirmed that a search of her home and office has taken place. Authorities will be trying to figure out if Leroy sold shares for euro 285,342.40 ($315,357.57) having already decided to leave the company and knowing this move would trigger a fall in the share price. In a statement on the Proximus website, she had previously denied any wrongdoing and expressed "regret" about the affair. Today marks her final day as Proximus CEO. Originally set to leave in December, she is being ejected sooner than planned after employees reportedly went on strike. Their apparent complaint is that Leroy will have little commitment to negotiations about restructuring while she prepares to join KPN. Asked to comment on the reports, a spokesperson for Proximus said by email: "At this point we can only confirm that a search has taken place yesterday in Miss Leroy's office inside the Proximus building in Brussels. Miss Leroy has confirmed to press agency Belga that a search has also taken place at her home address and that these actions fit in the context of the investigation you refer to." (See Departing Proximus CEO Frogmarched Out to Chorus of Staff Boos and Eurobites: Proximus Boss Protests Innocence Over Shares Sale.)