Ajax chairman Alex Kroes has agreed to step down as chairman of the board and move to the function of technical director, the Amsterdam football club said on Thursday, ending weeks of discussion about his future.

Kroes was suspended at the beginning of April, just two weeks after taking up the reins after club bosses accused him of insider trading. Kroes bought 17,000 shares in the club a week before his appointment was announced on August 2 last year. He was unable to start work until March under the terms of an agreement with his previous club, AZ Alkmaar.

Ajax’s supervisory board commissioned independent legal advice which concluded that Kroes “likely engaged in insider trading,” the club said in a statement at the time.

The 49-year-old was suspended with immediate effect and the board said it intended to dismiss him from his post once it has organised an EGM for shareholders. Kroes, however, said he intended to fight the charges.

Ajax said on Thursday that if it emerges “at any time” there has been a serious violation of insider trading rules, then the board will also reconsider Kroes’ position as technical director. The Dutch financial authority AFM is still investigating the deal.

“We are not deaf to the voices around us and have spoken extensively with people within and outside Ajax over the past weeks… and, of course, with Alex himself,” said supervisory board chairman, Michael van Praag. “The club needs to move forward… Alex will play an important role in the football-technical part of the organisation, particularly on the acquisition and sales policy.”

Supporters had been calling for Van Praag and other members of the board to go, saying that they had been too quick to sanction Kroes. Thursday’s announcement comes just hours ahead of a meeting of supporters and club officials at the club’s grounds, which Kroes is also planning to attend.

“We have put the interests of Ajax and football first together,” said Kroes. “The focus at Ajax must be on football again. We need everyone’s support to finish this season as well as possible. At the same time, we will jointly start working decisively for the new season.”

Problems

The Kroes discussion is the latest chapter in a troubled period for the Amsterdam club both on and off the pitch, which began with the departure of director of football Marc Overmars following revelations of sexual harassment.

Last September Ajax sacked director of football Sven Mislintat, four months after his appointment as a result of “unrest in and around the club”. A month later the club parted company with head coach Maurice Steijn after slumping to last place in the Eredivisie.

The team have since risen to fifth place under the stewardship of John van ‘t Schip, who was appointed as interim coach until the end of the season, and hope to qualify for the Europa League playoffs.