Lars Wingefors, the Embracer Group CEO who oversaw thousands of job cuts and a significant number of studio closures following a turbulent few years for the company, has announced he’s stepping down from his role. Wingefors is not, however, parting ways with Embracer, and will instead become its executive chair of the board.
“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,” Wingefors said in a statement announcing his change of role. “This new phase allows me to focus on strategic initiatives, M&A, and capital allocation, ensuring Embracer’s continued growth and success. I am more convinced than ever that the best is still ahead of us.”
With Wingefors’ focus shifting elsewhere, Phil Rogers will step into the vacated CEO role from 1st August. Rogers is currently deputy CEO of Embracer and CEO of Crystal Dynamics – Eidos.
Wingefors’ time as CEO has been turbulent to say the least. He oversaw a rapid period of expansion at Embracer, with the company embarking on a massive acquisition spree, snapping up the likes of Gearbox, Saber Interactive, Crystal Dynamics, and more – including the €2.75bn purchase of board game publisher Asmodee – over a number of years. However, the unsustainability of that expansion became clear after a $2bn deal with the Saudi government-funded Savvy Games Group collapsed dramatically in 2023.