Ainsworth comments on historical investigations into CEO Harald Neumann
Summary
Ainsworth Game Technology has addressed recent media articles discussing investigations by the Austrian Economic and Corruption Prosecutor’s Office that began in 2019. The investigations involve over 100 individuals, including Ainsworth CEO Harald Neumann, and the controlling shareholder, Novomatic AG. Ainsworth has been transparent with gaming regulators since becoming aware of these investigations in 2019.
Despite the ongoing investigations, Ainsworth’s Board concluded that they did not require a public announcement under ASX regulations, stating that the allegations lacked definitive evidence. The investigations related to Neumann commenced before he became CEO in 2021, and he has since been deemed suitable for the position after legal evaluations. Currently, only one investigation remains active, with findings suggesting that it will soon be discontinued.
Key Points
- Ainsworth confirmed awareness of the WKStA investigations since 2019, maintaining communication with gaming regulators.
- The Board determined that no immediate market disclosure was needed as investigations were preliminary with no substantiated allegations.
- Neumann’s appointment as CEO in 2021 was cleared after thorough compliance checks.
- The majority of the investigations against Neumann and Novomatic AG have been closed without findings of wrongdoing.
- The last remaining investigation is expected to conclude soon, with appropriate regulatory approvals anticipated.
Why should I read this?
If you’re keen to stay informed about the developments in corporate governance within the gaming industry, this article dives into the realities behind the investigations surrounding Ainsworth’s CEO. It sheds light on how companies navigate regulatory scrutiny and the implications for leadership integrity, making it a must-read for anyone interested in corporate accountability!