On September 5, Austrian gaming technology supplier Novomatic said that the changes will optimise its corporate structure after several years of expansion, beginning with its supervisory and executive boards. This will include a reduction in the number of members on the executive board, reducing from 6 to 3. Harald Neumann remains as chairman of the executive board (CEO) serving alongside chief operating officer (COO) Ryszard Presch.
Johannes Gratzl has been named as the company’s new chief financial officer (CFO) following the departure of Peter Stein. Gratzl was previously serving as head of group treasury. He will be replacing Peter Stein, who recently resigned from his position “by mutual consent” according to the company. Both Neumann and Presch remain in the positions they had held before the board downsizing.
The announcements came in a letter, where the company expressed a need to consolidate and optimize its corporate structure. A move that was felt to be necessary since last year. To accommodate this goal, Novomatic has reorganized both the supervisory and executive boards. This move includes naming Dr. Bernd Oswald as Chairman of the supervisory board, Martina Flitsch as the deputy chairwoman, and Dr. Robert Hofians as the supervisory board member.
Also included in the announcement was the fact that Thomas Graf will no longer serve as the company’s chief tech knowledge he officer. He is currently the CEO at the Greentube Group, a developer and supplier of software for mobile and Internet gaming. Greentube is a junior of Novomatic.
There were several other changes announced as well, this included Bartholomäus Czapkiewicz moving from his position as chief systems officer, effectively removing him from the executive ward. However, the announcement explained that he would
“continue to be responsible for this area as an authorized signatory.”
Novomatic also confirmed that Christian Widhalm, who had served as the chief investment officer at Novomatic, resigned from his position effective immediately. According to the announcement, this was due to “health reasons” but they explained that he would continue to be available for consultation and advisory capacity if needed.
Meanwhile, Novomatic’s supervisory board also saw a reduction, dropping from five members previously down to three following the retirement of Barbara Feldmann and the departure of Martina Kurz. Oswald, Flitisch, and Hofians remain on the board.
Bernd Oswald remains as chair of the supervisory board, with Martina Flitsch serving as deputy chair and Robert Hofians as board member.
This move may have been driven by an announcement last week that first-half profits this year fell by 68.8% from the previous year to a total of €34.3 million ($37.82 million). The total earnings before interest, depreciation, amortization, and taxation also fell by 5.1% during the same period.
“Novomatic will continue along its chosen path and further optimize internal structures in Austria and the international group companies across national borders,” Neumann commented. “In doing so, the globally active gaming technology group hopes to increase company efficiency and achieve strong synergies between the various shareholdings.”