Ainsworth comments on historical investigations into CEO Harald Neumann
Summary
Ainsworth Game Technology has addressed ongoing investigations involving its CEO Harald Neumann, initiated by the Austrian Economic and Corruption Prosecutor’s Office (WKStA) in 2019. The firm clarified that it has kept all relevant gaming regulators updated since becoming aware of the investigations in August 2019.
Despite the investigations, the Ainsworth Board, following legal advice, determined that there was no need for a formal announcement, as the allegations were largely unfounded and preliminary. They maintained regular compliance monitoring through their Regulatory Compliance Committee.
Ainsworth also noted that investigations involving Mr Neumann have either been discontinued or are nearing conclusion, with regulatory approbation received for those that have concluded.
Key Points
- Ainsworth has informed regulators about the WKStA’s investigations involving CEO Harald Neumann since 2019.
- No factual evidence currently supports the allegations against Neumann or Novomatic AG.
- The investigations are public record and predate Neumann’s appointment as CEO in October 2021.
- All but one investigation related to Neumann have been closed, with no findings of wrongdoing.
- Ainsworth’s governance processes have recommended Neumann as suitable for continued leadership based on comprehensive probes.
Why should I read this?
If you’re in the gaming industry, this is crucial info! The resolution of these investigations is essential as it not only impacts Ainsworth’s reputation but also the wider perceptions in the market. Understanding how corporate governance and regulatory compliance play out in real situations can enrich your insight into effective business practices.