Moving into the CEO role with the supplier in 2014, Neumann now leaves citing family reasons, with the board having accepted his signature.

He will continue to have supervisory board functions and advise the company on international projects.

Ryszard Presch and Johannes Gratzl will take over the board duties previously held by Neumann.

Novomatic’s Chairman of the supervisory board said: “On behalf of company founder Prof. Johann Graf and the supervisory board of Novomatic, I would like to thank Mr. Neumann for his great commitment as Chairman of the management board over the past six years.

“Mr Neumann made a significant contribution to the successful expansion of the group. His personal wish to resign from his position at the end of the month was granted with regret.”

In its most recent full-year results – reported in April 2019 – Novomatic confirmed a 10% year-on-year rise in revenue for its 2018 fiscal year, to €2.6bn ($2.9bn).

However, EBITDA fell 1% to €555.6m, while Novomatic reported a loss of €154.9m overall.