Embracer Group CEO Lars Wingefors has candidly acknowledged his role in the company’s recent tumultuous period. The Swedish gaming giant has undergone a significant restructuring, including layoffs, studio closures, and project cancellations.
In a recent interview with GamesIndustry.biz, Wingefors admitted that he takes much of the blame for mistakes that led to these painful changes.
Wingefors’ comments come after a particularly challenging stretch for Embracer Group. A collapsed $2 billion investment deal triggered a nine-month restructuring plan with severe consequences for employees. The backlash was swift, with the CEO receiving a large portion of the criticism.
“As a leader and an owner, sometimes you need to take the blame and you need to be humble about if you’ve made mistakes and if you could have done something differently,” Wingefors stated. “I’m sure I deserve a lot of criticism…I could take a lot of that blame myself.”
Despite the setbacks, Wingefors remains hopeful about Embracer Group’s future. On Monday, he unveiled a major organizational shift with the company splitting into three separate entities:
- Asmodee: Continues as a board game, trading card, and digital board game publisher and distributor.
- Coffee Stain & Friends: Focuses on PC, console, and mobile game development, including free-to-play, LiveOps, and indie/AA titles.
- Middle-earth Enterprises & Friends: Prioritizes AAA PC and console game development with ownership of IPs including Lord of the Rings, Tomb Raider, Dead Island, Metro, and Kingdom Come Deliverance.
“I still feel I have the trust from many or all of my key entrepreneurs and CEOs that have joined the group,” Wingefors expressed. “It’s been difficult, but…we need to change…We will still make games, we still have one of the biggest, if not the biggest, pipeline of games in the industry.”
