Novomatic Make Changes To Executive Board Structure

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It was announced on September 5 that Austrian provider of gaming technology Novomatic was to make several adjustments to the composition of their executive board. This will include a decrease in the amount of Executive Board members from 6 to 3 and the appointment of a fresh Chief Financial Officer, Johannes Gratzl.

The announcements came in a letter expressing a need for the firm to consolidate and optimise its corporate structure. A move that has been needed since last year. To meet this objective, both the supervisory and executive boards have been reorganised by Novomatic. This move involves appointing Dr. Bernd Oswald as Supervisory Board Chairperson, Martina Flitsch as Deputy Chairwoman and Dr. Robert Hofians as Supervisory Board Member.

As Harald Neumann serves as Chairman and Chief Executive Officer (CEO) and Ryszard Presch as Chief Operating Officer (COO) Gratzl takes over as Chief Financial Officer (CFO), the Executive Board decreases to three officers.

Gratzl had served at Novomatic as the head of group treasury until recently. He will replace Peter Stein, who, according to the business, has lately resigned from his role “by mutual approval.” Both Neumann and Presch stay in their roles prior to the downsizing of the board.

The announcement also included the fact that Thomas Graf will no longer serve as the chief tech understanding of the company that he is the agent. He is presently the CEO of the Greentube Group, a portable and internet gaming software developer and distributor group. Greentube is Novomatic’s subsidiary.

A number of other moves were announced, including Bartholomäus Czapkiewicz shifting from his role as chief system officer to efficiently remove him from the executive ward. However, the announcement clarified that as an approved signatory he would “continue to be liable for this region.”

Novomatic’s Chief investment offiver Christian Widhalm, also resigned from his role. This was due to “health reasons,” according to the announcement, but they clarified that if required, he would remain accessible for consultation and advisory ability.

There was also a decrease in the supervisory board, falling from five previous members to three. with Oswald, Flitisch and Hofians to remain on the board, while Martina Kurz and Barbara Feldmann will leave without their positions filled.

Last week’s announcement that first-half profits this year fell 68.8% from the previous year to a total of € 34.3 million (£30.6 million) may have spurred this step. Over the same period, full income before interest, depreciation, amortisation and taxation also decreased by 5.1 percent.

 

 

 

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