Ainsworth comments on historical investigations into CEO Harald Neumann
Summary
Ainsworth Game Technology has acknowledged recent media articles regarding investigations by the Austrian Economic and Corruption Prosecutor’s Office (WKStA) into CEO Harald Neumann and others, which began in 2019. These investigations included over 100 individuals associated with Ainsworth and Novomatic AG.
Ainsworth learned of these investigations in August 2019 and informed gaming regulators to maintain transparency. Neumann was a non-executive director at that time. The Ainsworth Board reviewed the situation and, after legal counsel, decided no public announcement was needed, as the investigations lacked sufficient evidence to warrant concern.
Neumann, appointed as CEO in October 2021, was deemed suitable after a compliance review, and the board receives continuous updates on the investigations. So far, only one investigation related to Neumann remains active, with others discontinued and no wrongdoing found.
Key Points
- Ainsworth acknowledges investigations by WKStA into CEO Harald Neumann and over 100 associates.
- The company informed regulators, ensuring compliance and transparency.
- After legal advice, Ainsworth found no need for an ASX announcement regarding the allegations.
- Neumann was recommended as suitable for the CEO role after a probity investigation in 2021.
- Most investigations have been discontinued without findings of wrongdoing; one is still ongoing.
Why should I read this?
If you’re interested in the corporate governance side of the gaming industry, this article is a must-read! Ainsworth’s handling of potential scandals and their communication with regulators sheds light on the importance of transparency and compliance in maintaining shareholder trust. It’s not just about the allegations; it’s about how companies respond to them!