Ainsworth comments on historical investigations into CEO Harald Neumann
Summary
Ainsworth Game Technology has recently addressed media reports concerning investigations by the Austrian Economic and Corruption Prosecutor’s Office (WKStA). These investigations, initiated in 2019, involve allegations against over 100 individuals, including CEO Harald Neumann and Novomatic AG, the company’s controlling shareholder.
Ainsworth discovered the investigations in August 2019 and kept gaming regulators informed. Mr Neumann was a non-executive director at that time. Legal counsel determined no additional market announcement was necessary as the investigations lacked concrete evidence.
Source: Ainsworth comments on historical investigations into CEO Harald Neumann
Key Points
- Ainsworth acknowledges recent media coverage on ongoing WKStA investigations involving its CEO and Novomatic AG.
- The investigations began in 2019, affecting over 100 individuals tied to potential corruption allegations.
- Legal advice led Ainsworth’s Board to decide against further market announcements due to the preliminary nature of the allegations.
- All but one investigation involving Mr Neumann has been closed with no findings of wrongdoing.
- Mr Neumann has been determined suitable for his CEO role, having been licensed in over 100 jurisdictions.
Why should I read this?
If you’re in the gaming industry, this article is key to understanding the integrity and transparency surrounding leadership figures. It highlights the regulatory landscape and Ainsworth’s proactive approach to ensuring compliance and integrity, making the narrative relevant for anyone monitoring corporate governance in this sector.