Did KPN properly vet Dominique Leroy before her appointment?

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KPN Did Not Properly Vet Dominique Leroy Before Her Appointment

KPN ditched plans to appoint Dominique Leroy as its new chief executive officer due to an ongoing investigation into her sale of shares in her former company, Proximus. The investigation, which centers on potential insider trading, emerged after KPN had already announced Leroy's appointment. This situation raises questions about the thoroughness of KPN's vetting process.
Investigation into Share Sale Emerged Post-Appointment

Dominique Leroy was scheduled to commence her role as CEO of KPN on December 1. However, it later came to light that she had sold €285,000 worth of shares in Proximus on August 1, a period during which confidential negotiations with KPN were actively taking place. This transaction, her first in three years, occurred prior to KPN's public announcement of her intended appointment on September 5.
Authorities Raided Leroy's Home and Office

Following the emergence of the share sale, Brussels police and prosecutors initiated an investigation into possible insider trading. As part of this inquiry, authorities raided Leroy's home and office on September 19. The day after the raid, on September 20, Leroy stepped down from her position as CEO of Proximus.
KPN Cited Uncertainty as Reason for Withdrawal

KPN stated that it had "no choice but to cut ties" with Leroy due to the "unclear and unpredictable" duration of the procedures involving her by Belgian authorities. The company's Supervisory Board determined that these uncertainties regarding timing were not in the best interest of KPN and its stakeholders. Consequently, KPN has appointed Chief Operational Officer Joost Farwerck as interim CEO while it resumes its search for a permanent replacement.

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Did KPN properly vet Dominique Leroy before her appointment?

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