Dutch telco KPN has confirmed it will no longer appoint Dominique Leroy as its next chief executive. She was set to start her new role on December 1st, however she is under investigation for her sale of shares in Proximus, the company she was leaving.
KPN said in a statement that it “regrets to announce that Mrs. Dominique Leroy is no longer a candidate”.
“The duration of the procedures which concern Mrs. Leroy by the authorities in Belgium is unclear and unpredictable. The Supervisory Board of KPN considers these uncertainties around timing not in the interest of KPN and its stakeholders,” KPN added.
An extra shareholders meeting on October 28th, at which her appointment was to be voted on, was cancelled.
Belgian police said on September 20th they had searched Leroy’s home and office as part of a probe by Belgium’s stock market watchdog FSMA into her sale of Proximus shares worth €285,000.