Ainsworth Game Technology (AGT) has announced the appointment of Harald Neumann as its new chief executive after it was confirmed that Lawrence Levy will step down from the role this week.
Formerly chief executive of Novomatic before departing in February 2020, Neumann has been a director of the business since February 2017 and will become an executive director when he moves into his new role next month.
Subject to regulatory approvals, Neumann will become chief executive of AGT with effect from 1 October.
Levy today (8 September) informed the business of his intention to resign and will officially step down on 10 September.
He took on the role of chief executive in June of 2019 having joined AGT from Novomatic, where he was vice president of sales.
Mark Ludski, chief financial officer of AGT, will take on the additional role of interim chief executive until Neumann assumes the role in October.
“On behalf of the board, we thank Lawrence for his contribution through challenging times. Lawrence has decided to resign for personal reasons, and we wish him well,” AGT chairman Danny Gladstone said.
“We are fortunate to be able to appoint Harald as our new CEO. As the former successful CEO of Novomatic AG, our major shareholder, and a director of AGT, he brings a wealth of knowledge and experience to the role with a thorough understanding of AGT.
“He will be able to seamlessly transition to the new position. Harald will be based in Las Vegas where he can lead AGT in our largest market continuing to drive growth and recovery.”
Last month, AGT said it expects revenue of AU$88m (£47.1m/€54.8m/US$64.9m) for the second half of its 2020-21 financial year, ended on 30 June. This would be a rise of 22.2% compared to the $72m in revenue it made in the first half of the financial year.