AGT Parts Ways with CTO Bollesen with Immediate Effect

Ainsworth Game Technology (AGT) is parting ways with David Bollesen, its chief technology officer. The news was confirmed on May 16 in an official ASX announcement.

The Australian Exchange filing noted that Bollesen is departing from the company “on mutual agreement, with immediate effect.” The company acknowledged his contributions and expert input and wished him all the best.

AGT, however, did not provide an official reason for Bollesen’s departure.

AGT’s chief executive officer, Harald Neumann commented on the matter, praising Bollesen’s contributions. He noted that the outgoing CTO has overseen the execution of transitional product strategies which have laid the foundations to position Ainsworth for continued growth.

I thank David for his dedication and contribution during his service with the Company and we wish him well for the future.

Harald Neumann, CEO, AGT

AGT Will Search for a New CTO  

Neumann added that his team will now initiate a search for a new chief technology officer. The company is looking for someone who will be a suitable successor to Bollesen and will head the company’s tech division from its office in Las Vegas.

In the meantime, the CTO role will be temporarily overseen internally by respective regional presidents, in conjunction with game studio leaders, Neumann added.

I am confident that the current management within product development areas will ensure no disruption in the execution of the planned product roadmap.

Heral Neumann, CEO, AGT

In other news, Ainsworth recently expanded its team with a major addition. Earlier this month, for example, the company onboarded Nancy Ramirez Ayala as its new SVP, general counsel and group compliance officer. Ayala brought a robust iGaming experience to the team, having previously worked for the likes of Rush Street Interactive and William Hill.

Earlier this year, an Ainsworth shareholder accused the company of purposefully talking down the value of the stock. David Kanen, a discontent investor whose company owns millions of shares, questioned Ainsworth’s direction. He critiqued the company’s reluctance for a second listing and suggested that ongoing devaluation of Ainsworth’s stock might be a setup for a rumored Novomatic takeover.