Proximus’s Leroy ‘regrets perception’ created by share sale ahead of KPN move

Proximus CEO Dominique Leroy has come under fire over the sale of shares in the Belgian telco ahead of the announcement that she is to be appointed CEO of KPN.

Dominique Leroy

Leroy, who sold shares in Proximus on August 1, a month ahead of the KPN announcement, apologised for the perception created by the move.

Leroy said she had intended to trade shares she owned in the company for some time but was prevented from doing so by a closed period restriction.

She said that the shares were sold on the first day permitted after Proximus Q2 results were make public, and that she had not decided to leave Proximus at that point. Leroy said she was in discussion abot the renewal of her contract at the time but admitted having “some conversations” with “several external parties” including KPN.

The Proximus CEO said that she understood “with hindsight” that “the timing can create the perception that I did this exactly prior and because of my departure”.

She said she regretted this perception had been created, which was “not in line with my values”.

KPN last week named Proximus chief Dominique Leroy as its new CEO, replacing Maximo Ibarra, who is taking over as chief executive of Sky Italia.

KPN said Leroy would take the helm at the Dutch telco from December 1.