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Embracer Group CEO Admits Mistakes in Company Management

Embracer Group CEO Admits Mistakes in Company Management
Written by: ASH

In a recent interview with Games Industry, Embracer Group CEO, Lars Wingefors, acknowledged a "long list" of things he would have managed differently, noting it's easy to say in hindsight.


Wingefors expressed, "I am sure I deserve a lot of criticism, but I don’t think my team or the companies deserve all of it." He admitted he could take much of the blame himself but emphasized his belief in the company's mission, which he feels remains valid under the new structure.




This reference pertains to the recent announcement that Embracer will split into three distinct companies: Asmodee Group, Coffee Stain & Friends, and Middle-earth Enterprises & Friends. The first will focus on board games, the second on indie and lower-budget games, including free-to-play, and the third on AAA titles, with IPs like Lord of the Rings and Tomb Raider.


This restructuring follows a tumultuous period with numerous layoffs, project cancellations, and studio closures after a failed $2 billion liquidity deal. Wingefors reflected on the company's rapid growth during the pandemic, which saw a subsequent decline as conditions normalized.


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"At any given moment, you make the decisions you think are right," said Wingefors. During the peak of 2020 and 2021, those decisions to buy or invest were unanimously supported. The painful results, taking years for game development, require adaptation, he added.


He also commented on the 2021 acquisition of Asmodee for $2.75 billion, which brought debts but the ultimate impact remains to be seen. Wingefors concluded it’s too early to judge what was right or wrong about it.


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