Ainsworth Confirms Comstock as CEO with USD 625,000 Base Pay

Permanent CEO Appointment After Acting Role

Ainsworth Game Technology (ASX:AGI) has made permanent the appointment of Ryan Comstock as Chief Executive Officer, effective immediately. Comstock, who stepped into the acting CEO role in October 2025 following a leadership reshuffle, has now secured the top job after a six-month performance review by the Board. His deep operational experience within the company and gaming regulatory approvals were key factors in the decision.

This confirmation follows a period of executive transition that coincided with Ainsworth's challenging FY25 results, including a $43.1 million goodwill impairment and a 9% dip in underlying profit to $21.1 million, as reported in April. The company also navigated strategic governance pressures amid a takeover bid, highlighting a turbulent backdrop for Comstock’s elevation to CEO. His appointment signals a desire for continuity and operational stability during this period of market uncertainty and shareholder activism, as seen in the ongoing leadership shift and profit report.

Compensation Aligned with Performance and Market Conditions

Comstock’s remuneration package includes a base salary of USD 625,000 per annum, reflecting the company's commitment to competitive executive pay. He is also eligible to participate in the 2026 Short-Term Incentive Plan, which will pay out in cash subject to foreign currency exchange rates and achievement of Group financial targets. However, the specific performance targets and entitlement details are still being finalised by Ainsworth's Remuneration and Nomination Committee and Board.

His long-term incentives remain unchanged, with 400,000 cash-settled performance rights tied to service conditions and performance hurdles disclosed in the 2025 financial report. This mix of incentives aims to balance immediate operational delivery with longer-term strategic goals, a critical approach given the company’s recent financial and governance challenges.

Contract Terms Reflect Executive Flexibility and Protection

The CEO contract has no fixed term but is subject to Board review, offering flexibility in leadership tenure. Termination provisions include a six-month notice period from either party and immediate termination rights for serious misconduct. Post-employment, Comstock faces a six-month worldwide restraint period covering non-compete and non-solicitation clauses, standard for senior executives in the gaming sector.

These terms provide Ainsworth with protections against competitive risks while offering Comstock clarity on his obligations and exit conditions. The appointment and contract terms come amid ongoing shareholder activism and strategic maneuvers, including a contested takeover bid that has kept Ainsworth under market scrutiny, as seen in the takeover bid governance challenges.