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Ainsworth chair & secretary resign over secret bonus payments
Ainsworth Game Technology’s (AGT) chairman Danny Gladstone and company secretary Mark Ludski have stepped down from their positions, effective immediately, in connection with complaints over personal payments made to both executives 8 years ago.
The resignations come after public criticism over undisclosed cash payments to Gladstone and Ludski, which were identified by the Australian Financial Review in February 2026. It’s believed that the pair received $7.1 million and $3.5 million from AGT founder Len Ainsworth right after his majority stake was sold to Novomatic in 2018.
AGT shared in a statement on June 5:
“Mr Gladstone and Mr Ludski have each informed the Board that they have decided to step down in light of recent media reports regarding personal payments made to them over eight years ago. Mr Gladstone and Mr Ludski have decided it is in the best interests of AGT for them to resign so that AGT can move past these distracting complaints in order to focus on the execution of its strategic priorities.”
Ludski had joined the company back in 2000, while Gladstone had been with the company since 2007. At the time of the stated bonus payments, the pair held the roles of CFO and CEO, respectively.
Ainsworth has already announced the new replacements, with independent non-executive director Graeme Campbell appointed as chair, CFO Lynn Mah as interim secretary, and Andrew Kabega as interim joint secretary.
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