Embracer Group CEO Lars Wingefors has announced he is stepping down from his role, but will remain with the company as an executive chair of the board.

The details:

Wingefors announced his change of role in a new statement, confirming that as of August 1, 2025, he will serve as an executive chair with a focus on “strategic initiatives, M&A, and capital allocation.” "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. "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."
Phil Rogers, Embracer's deputy CEO and Eidos CEO, will take over as CEO on August 1. Rogers has been CEO of Eidos since 2008, having previously led Square Enix's western business from 2009 to 2022, when the company was owned by the Final Fantasy publisher.
The resignation comes after years of difficulties for the Swedish firm, including thousands of job cuts, studio closures, and numerous cancelled projects as a result of the collapse of a $2 billion deal with Saudi-owned Savvy Games Group. Prior to the deal's collapse, Embracer spent billions of euros to acquire several major studios and enter the board gaming market.

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Embracer Group CEO steps down following years of mass layoffs and studio closures