Embracer Group co-founder and CEO Lars Wingefors, who helped flip the corporate right into a layoff and divestment powerhouse after an ill-fated merger and acquisition spree, is transitioning roles so he can “concentrate on strategic initiatives, M&A, and capital allocation.”
Wingefors will formally step down as CEO on August 1, 2025, and is proposed to be appointed as govt chair of the board of Embracer. He might be changed by Embracer deputy CEO Phil Rogers, who additionally leads Crystal Dynamics—Eidos as CEO.
It is a notable altering of the guard that comes with Embracer trying to rightsize after massively lowering its headcount and studio footprint by enacting a brutal restructuring program that resulted in high-profile divestments, mass layoffs, and widespread studio closures.
Lars Wingefors was on the helm throughout that tumultuous interval, but in addition oversaw the mammoth M&A splurge that ultimately resulted in these rampant cuts.
Discussing that strategic pivot in 2023Wingefors mentioned Embracer needed to change out of its “present heavy-investment mode” to develop into a “extremely cash-flow generative enterprise.”
Embracer continues enterprise reorganization however hints at future acquisitions
After years of redundancies and downsizingEmbracer sought to start a brand new period by splitting its enterprise into three standalone corporations. That pivot was introduced in April 2024 with a view to enabling completely different areas of the enterprise to seek for “successful formulation.”
“Reasonably than imposing conformity on thriving companies, we should always foster an setting that amplifies current success,” mentioned Wingefors on the time.
That course of is now nicely underway. Embracer has spun out these entities within the guise of Asmodee, Espresso Stain Group, and Fellowship Leisure—all of which might be overseen by a privately held holding firm known as Embracer AB—and urged it stays all in favour of “probably” buying different corporations.
Wingefors would be the particular person driving these potential M&A efforts going ahead.
“With the beginning of this new section, I’m grateful for the years and classes discovered as CEO of Embracer. Whereas the highway has not all the time been straight, I’m extremely happy with the achievements made potential by our proficient groups, which have created some unbelievable experiences for players,” mentioned Wingefors in a be aware to buyers.
“This new section permits me to concentrate on strategic initiatives, M&A, and capital allocation, making certain Embracer’s continued progress and success. I’m extra satisfied than ever that the most effective remains to be forward of us.”
