C
asinos Austria AG Annual General Meeting and Supervisory Board Meeting on Wednesday saw new members appointed to the Supervisory Board of the company.
Former Siemens Austria Chairman Wolfgang Hesoun took the helm as the new Chairman of the Supervisory Board at Casinos Austria. His currently sole Vice Chairman is SAZKA Group CEO Robert Chvatal, who has chaired the Board since Walter Rothensteiner’s departure.
ÖBAG Director and former PwC CEO Christine Catasta and compliance and player protection expert were appointed to the Board. Gerhild Hofer and Thomas Polzer are leaving the committee.
“I am delighted that we were able to secure an experienced top manager as President of the Supervisory Board, and that person is Wolfgang Hesoun,” ÖBAG Managing Board member Thomas Schmid said in a press release. “Our current personnel decisions show that after a challenging period, we are embarking on a new chapter for the company, one in which the Managing Board, the employees, the Supervisory Board and the owners work together to create a positive future for the company.”
The basis for the changes in membership of the Boards is the syndicate contract between the SAZKA Group (majority owner) and the state-owned holding company ÖBAG. This contract was recently approved by the EU Competition Commission. “The syndicate contract between the two main owners amicably regulates the strategic development and alignment of the corporate group,” Chvatal explained. “Our shared vision and long-term strategy provide the stability that the company needs. This is particularly important in the current difficult situation as well as with regard to the challenges facing the corporate group in the near future. In particular, the two main owners will make a substantial contribution to strengthening distribution and building up new online services, as well as driving forward the urgently needed fight against illegality.”
The company said that the Supervisory Board will provide tangible support for the company’s efforts in terms of player protection and responsible gambling. “Casinos and lotteries bear great social responsibility in the gaming sector. As a core shareholder, it is of particular interest to ÖBAG that our shareholdings continue to expand their pioneering role in the area of player protection in Europe. With Erika Stark-Rittenauer, we on the Supervisory Board can provide valuable input in this regard,” Schmid said with respect to the future focus.
The report on the ReFIT restructuring program was discussed during Wednesday’s meetings. A comprehensive package was put together, and most of it has already been implemented. These measures will save 50 million euros in the long run and reduce the number of employees by around 500 FTEs across the entire Group.
The fact that almost the entire personnel reduction could be carried out in the form of amicable separations and accompanied by corresponding social plans, new collective agreements and company agreements was noted as a positive aspect, according to the company. This was possible because an amount in the high double-digit millions was spent on the design of these separation packages.
