Dominique Leroy, the Belgian telecommunications executive who was slated to move to KPN, has been dropped as candidate to take the top job at the Dutch company due to an investigation into a share sale, it said on Monday.
Leroy is under investigation for her sale of shares in Proximus, the company she was leaving.
KPN said it "regrets to announce that Mrs. Dominique Leroy is no longer a candidate" for the job she was supposed to start Dec. 1.
"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," it said.
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