Embracer is a 2011-born one of the top Swedish video game and media-holding companies. Over the years, it has published incredible games and acquired a number of studios. However, everything came back to bite the company, as it wasn’t able to fund all the acquired projects and lost its direction.
Due to this reason, Embracer had to shut down various companies under its wing, thousands of employees were laid off, and games were canceled. The past year, in particular, was a blood bath for the company as it burned through millions and took the layoffs to the next level. Despite all of that, the CEO, Lars Wingerfors, isn’t worried, even though he’s just lost his job.
There’s a new CEO at Embracer Group, but will this be enough?
Embracer Group has unveiled new changes to the top leadership. CEO Wingefors will step down from his role and transition to the position of executive chair of the board. Taking over the role of CEO will be Phil Rogers.
These changes aren’t happening overnight, though. Rogers will assume the role of Embracer’s CEO on August 1st, marking the end of Wingefor’s time on the executive management team. Wingefors has issued a statement regarding the entire situation, and his words are simply hard to believe.
While the road has not always been straight, I am incredibly proud of the achievements made possible by our talented teams, which have created some incredible experiences for gamers. This new phase allows me to focus on strategic initiatives, M&A, and capital allocation, ensuring Embracer’s continued growth and success
Seriously, the road has not always been straight? Wingerfors has won the award for the understatement of the year. If anything, it’s been a disaster for Embracer under the leadership of Wingerfors. The company lost the $2 billion deal with Savvy Games and found itself with a $1.5 billion debt.
That was the event that kick-started the whole Ebracer fiasco of shutting down or selling the studios under its wing. Before being acquired, all of the developers were doing incredible work, but in the end, they were forced to leave their studios and projects that they had spent years polishing.
Embracer wants to push out 76 games next year
Even though Embracer Group has had a rough ride, it doesn’t plan to back down. In a recent earnings brief, it announced its plans to drop 76 games in the near future. These games are supposed to be new IPs, remasters, and sequels.
Some of these titles include the likes of Marvel 1943: Rise of Hydra, Killing Floor 3, Norse: Oath of Blood, and many others. Embracer believes that Rise of Hydra will bring tons in terms of revenue, but might not be a profitable project as it’s a collaboration with other parties.
The company also revealed that it’s planning to release two AAA games, Killing Floor 3 and Rise of Hydra, by March 2026. A third AAA title was supposed to be in the mix as well, but it’s been delayed to FY 2026/2027.
Embracer also revealed that it will now be under the name Fellowship Entertainment, replacing its earlier title, Middle-earth & Friends. According to the company, their decision to drop the Embracer isn’t due to the recent controversies.
This post belongs to FandomWire and first appeared on FandomWire
