Ainsworth has confirmed that it is reviewing the role of CEO Harald Neumann, following developments with the Nevada Gaming Control Board (NGCB) regarding his executive license application.
The review comes after the NGCB recommended that Neumann withdraw his application for a Nevada executive license, effectively halting the hearing that was scheduled for 11 October.
His tenure at Ainsworth has coincided with an ongoing takeover bid from Novomatic, a process requiring licenses for all senior executives.
Novomatic had launched an unconditional AU$1.00 per share bid for all remaining Ainsworth shares, running alongside its existing Scheme of Arrangement. The company had confirmed that the offer price will not increase, despite some family shareholders preparing to vote against the deal.
Neumann, who resigned as Novomatic CEO in 2020, had been an Ainsworth director since 2017. Following discussions with the NGCB, Ainsworth released a statement noting the recommendation for Neumann to withdraw his application prior to the hearing.
Neumann operates from Ainsworth's Las Vegas base, managing the Australian slot manufacturer and supplier. While Novomatic's acquisition offer has faced some shareholder resistance, including from minority shareholder Kjerulf Ainsworth, Neumann has continued to lead the company.
Chairman Danny Gladstone stated, "The Board is undertaking a review of Mr Neumann's role following the outcome of the NGCB's meeting and will provide further details to the market once this review is completed."
Neumann became Ainsworth CEO on 1 October 2021, succeeding Lawrence Levy, who resigned for personal reasons
