Owner of Pokestars and Full Tilt Amaya has confirmed the resignation of David Baazov from the official positions of CEO and Chairman of Amaya, with Rafi Ashkenazi being appointed as the new CEO on a permanent basis.
[dropcap]T[/dropcap]he firm stated: “Amaya thanks Mr. Baazov for his contributions to Amaya since its inception and through its rapid growth, and looks forward to Mr. Ashkenazi’s continued success in leading the execution of Amaya’s strategy.”
This follows the company’s announcement in March that Baazov had taken an indefinite leave of absence while he faces charges relating to insider trading.
The charges were announced by the Quebec financial security regulator, with Baazov and five other parties related to Baazov having 23 charges filed against them.
I am proud of my contributions in building Amaya into the successful company it is today, and continue to be supportive of its strategy and management.
Issuing a short statement, Baazov said: “I am proud of my contributions in building Amaya into the successful company it is today, and continue to be supportive of its strategy and management.”
Baazov’s resignation comes as Amaya considers a non-binding proposal to take the company private from the former CEO, who has a 18.5 percent stake in the company.
The Toronto-listed firm, which reported higher-than-expected quarterly profits, said it was also speaking with a “number of parties” as it reviews its strategic options.
While Amaya revealed that discussions were advancing, it made clear that ‘there remains no guarantee that this process will result in a transaction of any kind.’
Previously printed on Betting Business Interactive