Casinos Austria International's chief executive officer Paul Herzfeld has left the company.
Herzfeld’s departure comes as chief financial officer Josef Leutgeb also chose to step down from the operator’s management board and leave the company.
Following the pair’s resignation, the directors of Casinos Austria will assume management of Casinos Austria International. In addition, Alexander Tucek, Claudia Dotter and Wolfgang Sperl have been appointed authorised company signatories and will manage the day-to-day running of the business.
In April, CAI reported that it had made a net loss of 35.2m euros in 2010 after recording a net income of 12.6m euros in the previous year. On March 29, the company’s supervisory board authorised the management team to continue with an expanded version of an efficiency programme initiated in 2010. Measures included reducing costs, making use of greater synergy within the casinos group and revising its portfolio.
The company said it hoped that this programme, along with an improvement in revenues in the previous few months, would lead to better results in 2011.
