Three executives of security company Fox-IT have tried to ‘buy’ the company by a Dutch investor. There are said to be many clashes between management and the British owner of the company.
The board members were put on non-active earlier this week. Fox-IT is said to have started an internal investigation into the trio, but it was not yet clear why that would be. De Volkskrant now writes that the three executives have attempted to attempt a coup. They would have made a plan to buy the company back from the British NCC Group together with a Dutch investor. The security company took over in 2015. According to the Volkskrant, this would amount to around 100 million euros. The company does not want to respond to the news.
The board members who have been put on a non-active role are CEO Erik Ploegmakers, CEO Jeremy Butcher, and Jurgen Delfos, CEO of Crypto. Fox Crypto is a subsidiary and responsible for securing Dutch state secrets. Since the sale in 2015, there would have been concerns about that security because the company came into foreign hands. In 2017, the Dutch government demanded a say in the company.
De Volkskrant spoke to various anonymous sources within the company. They say that in recent years there has been increasing disagreement between the parent company and the management. There would have been ‘thunder’ for years about the relationship between Fox-IT and the Dutch government. This is a strong customer, but does not yield much for the listed NCC.
Some sources of the Volkskrant also say that NCC was not happy with the incident responsebranch of the company. The income would be too irregular, and NCC would have focused more on ‘continuous income’. Some of the sources of the newspaper contradict that.