Australia-listed slot machine maker Ainsworth Game Technology Ltd says Lynn Mah will assume the position of chief financial officer (CFO) with effect from January 1, 2023. She joined the company in 2007 and is currently group finance manager.
Mark Ludski, who is since 2000 Ainsworth’s CFO and company secretary, “will remain in the position of company secretary ensuring a smooth and seamless transition of the CFO role,” said the company in a filing.
It added: “Mark will be undertaking additional initiatives to pursue opportunities to progress growth objectives and governance related activities across the group.”
The statement quoted Ainsworth chairman Danny Gladstone saying he was “confident” Ms Mah “has the necessary attributes to provide significant value to the group in her new role as CFO”.
“She is a highly competent and effective finance executive, and her skills are well suited to the opportunities ahead,” stated Mr Gladstone.
Mr Gladstone said additionally that the company was “delighted” to retain Mr Ludski’s expertise and experience.
Earlier this month, Ainsworth’s chief executive Harald Neumann said the firm’s priority was “to maintain a strong balance sheet and liquidity to be able to support” the group’s research and development (R&D) investments.
Ainsworth reported a profit after tax of AUD11.8 million (US$8.1 million) for the 12 months ended June 30, compared to a loss after tax of AUD53.4 million in the prior corresponding period.
