Australia-listed slot machine maker Ainsworth Game Technology Ltd says the appointment of Ryan Comstock (pictured in file photo) as its acting chief executive has no fixed term, is subject to review by the firm’s board and the appointment of a permanent CEO, according to a Thursday filing.
Mr Comstock assumed the role of acting CEO with effect from October 13, following the resignation of his predecessor, Harald Neumann.
As Ainsworth’s acting CEO, Mr Comstock is entitled to a base salary of US$625,000 per year, as per Thursday’s filing.
He is also entitled to Ainsworth’s “short term” and “long term” incentive pay, the filing added.
Mr Comstock could be granted a “maximum potential amount” of US$145,000 as part of the company’s “short term incentive” plan for the financial year ending December 31.
He is also entitled to 400,000 cash-settled performance rights as part of the firm’s “long term incentive”, subject to his fulfilment of the performance targets as set by the company.
The new interim CEO joined Ainsworth in 2012 and was promoted to chief operating officer in 2018. He is based in Las Vegas, Nevada, in the United States.
Ainsworth said in a mid-October announcement that a “comprehensive search process” was to be undertaken for a permanent CEO, “with both external and internal candidates being considered”.
