Okay, let’s dive into this thing. So, Embracer Group, right? A European gaming company — and man, they’ve had one heck of a year. Lost 1,800 folks, which is no small potatoes. This info comes from their annual report — some Game Developer people caught wind of it and spilled the beans.
Now, rewind a bit to the last fiscal year, and there were about 1,400 job losses. So, it’s not the first time they’ve seen this kind of cutback. But here’s the kicker — not everyone left because they got the boot. Some staffers just moved on when Embracer decided to sell off a few studios like Gearbox and Saber Interactive. I mean, life moves on, right?
And the whole saga might be wrapping up now. You see, Embracer had a big check coming — a multi-billion dollar investment from Saudi Arabia’s Savvy Group. Surprise! It didn’t happen. So they’ve been, you know, “restructuring.” You get the drift.
Anyway — oh wait, speaking of change, Embracer is shaking things up again. It’s splitting into three different companies. Crazy, huh? And Lars Wingefors, the founder, well, he’s stepping back from the CEO gig. Enter Phil Rogers, who’s been around the block a few times, notably with Square Enix.
Lars wrote this letter to shareholders, putting Phil in the spotlight. Seems like they’ve had a solid working relationship. Lars was all grateful and stuff, saying he’s learned a bunch as CEO. The path wasn’t always straight (ain’t that the truth?), but Lars seems content with the team’s accomplishments. Proud papa vibes, you know?
He’s stepping into a new role as executive chairman of the Board. Sounds fancy. He’ll be focusing on strategy, mergers, acquisitions, and all that jazz. Lars seemed optimistic about what’s next, which is kinda nice. Feels like he believes the golden days are still to come. Fingers crossed, right?
