Embracer CEO Who Oversaw High-Profile Acquisitions, Studio Closures, and Thousands of Layoffs to Step Down Later This Year

Lars Wingefors, laminitis of Swedish gaming institution Embracer, is stepping down from his CEO role. Current lawman CEO Phil Rogers volition presume the presumption from August 2025.

Embracer, which oversees IPs similar The Lord of the Ring, Dead Island, Metro, and Tomb Raider, is nary alien to change, of course. After making high-profile acquisitions similar the acquisition of Middle-earth Enterprises and Borderlands-maker Gearbox successful 2022 and 2021, respectively, Embracer recovered itself successful turmoil aft a $2 cardinal woody with Savvy Games Group fell through. In the clip since, the institution has unopen down Saints Row developer Volition Games, sold Gearbox, divided from Space Marine 2 developer Saber Interactive, and overseen thousands of layoffs. Wingefors called the disapproval and backlash to its missteps "painful."

Embracer's Lars Wingefors is stepping down. Image credit: Embracer.

In April 2024, Embracer announced plans to divided itself into 3 abstracted companies: Asmodee Group, Coffee Stain & Friends, and Middle-earth Enterprises & Friends to “unleash the afloat imaginable of each squad and supply them with their ain enactment and strategical direction.” The restructuring and closures saw 1,387 workers suffer their jobs and 29 unannounced projects canceled. It precocious announced plans to rotation disconnected Coffee Stain Group and renamed its The Lord of the Rings concern Fellowship Entertainment.

Wingefors isn't leaving Embracer entirely, however, and has been appointed enforcement seat of the board, with existent seat Kicki Wallje-Lund moving to lawman chair. Wingefors volition besides beryllium appointed manager of the aforementioned Coffee Stain Group.

"With the commencement of this caller phase, I americium thankful for the years and lessons learned arsenic CEO of Embracer," Wingefors said successful a connection (thanks, GamesIndustry.biz). "While the roadworthy has not ever been straight, I americium incredibly arrogant of the achievements made imaginable by our talented teams, which person created immoderate unthinkable experiences for gamers.

"This caller signifier allows maine to absorption connected strategical initiatives, [mergers and acquisitions], and superior allocation, ensuring Embracer's continued maturation and success. I americium much convinced than ever that the champion is inactive up of us. Having worked precise intimately with Phil implicit the past years, I person precocious assurance successful his abilities. I look guardant to a continued adjacent collaboration to further fortify the concern and thrust worth successful the coming years."

Looking to the future, Embracer owns oregon controls implicit 450 franchises, with a agelong database of subsidiaries that includes THQ Nordic, Plaion, Coffee Stain, Amplifier Game Invest, DECA Games, Dark Horse, Freemode, and Crystal Dynamics – Eidos. It has 73 interior crippled improvement studios and implicit 7,000 staff.

Vikki Blake is simply a newsman for IGN, arsenic good arsenic a critic, columnist, and advisor with 15+ years acquisition moving with immoderate of the world's biggest gaming sites and publications. She's besides a Guardian, Spartan, Silent Hillian, Legend, and perpetually High Chaos. Find her astatine BlueSky.