Ainsworth comments on historical investigations into CEO Harald Neumann
Summary
Ainsworth Game Technology has responded to media articles discussing investigations by the Austrian Economic and Corruption Prosecutor’s Office into its current CEO, Harald Neumann, and others. The investigations have been ongoing since 2019, encompassing over 100 individuals. Ainsworth first learnt about these investigations in August 2019 and has kept relevant gaming regulators informed about the developments.
In their response, Ainsworth has clarified that while they typically refrain from commenting on speculation or media reports, they had decided that no ASX announcement was necessary at the time as the investigations were preliminary with no concrete evidence presented to support allegations against Mr Neumann. A thorough assessment found him suitable for his role as CEO based on regulatory standards.
Key Points
- Ainsworth acknowledges ongoing investigations since 2019 involving over 100 individuals, including CEO Harald Neumann.
- The company keeps gaming regulators updated about the investigations as required by compliance obligations.
- Ainsworth has determined no public announcement was necessary due to the investigations being preliminary and speculative.
- Neumann was deemed suitable for his position following a comprehensive review by the Regulatory Compliance Committee.
- Current updates indicate that all investigations except one involving Mr Neumann have been discontinued with no findings of wrongdoing.
Why should I read this?
If you’re keen on understanding how corporations handle regulatory scrutiny, Ainsworth’s situation provides a fascinating case study. This article sheds light on the robustness of compliance frameworks and how a company navigates challenging media coverage while maintaining transparency and trust with regulators.