Embracer Group has announced new changes to its executive level leadership. Co-founder Lars Wingefors is leaving the position of CEO behind to instead become the executive chair of the board. Replacing his role as CEO is Phil Rogers. Current chair of the board, Kicki Wallje-Lund, will be taking up the position of deputy chair of the board.
The changes aren’t going to be immediate. Rather, Phil Roger’s tenure as CEO of Embracer will officially start on August 1. Wingefors, on the other hand, will officially stop being part of the executive management team at the company on the same day, and will become the chair of the board on September 18.
“With the start of this new phase, I am thankful for the years and lessons learned as CEO of Embracer,” said Wingefors in a statement, according to a press release announcing the changes. “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.”
“I am more convinced than ever that the best is still ahead of us. Having worked very closely with Phil over the past years, I have high confidence in his abilities. I look forward to a continued close collaboration to further strengthen the business and drive value in the coming years.”
Along with these changes, Embracer has also revealed leadership changes for Coffee Stain Group. Anton Westbergh – CEO of Coffee Stain Group, along with Wingefors, will be appointed as directors of the company. Current board member of Embracer Jacob Jonmyren will also be appointed as the chair of the board for Coffee Stain Group. The spun-off company is also getting Erik Sunnerdahl – currently group finance director at Embracer – as its new CFO.
Embracer had announced back in May that it was spinning off Coffee Stain Group into being its own entity. As part of the move, the remainder of Embracer – formerly known as Middle-Earth & Friends – will instead be renamed to Fellowship Entertainment.
As a result of this move, Coffee Stain Group took with it 250 employees between development teams and publishing teams. The company also officially owns development studios like Coffee Stain, Tuxedo Labs, and Ghost Ship. Some of the IP that was spun off into being a part of Coffee Stain Group includes Deep Rock Galactic, Satisfactory, Goat Simulator, Valheim, and Teardown, among others.
“We’re really proud of everything we’ve built as part of Embracer, and grateful for the support and trust we’ve received over the years,” wrote Westbergh when the corporate move was first announced. “Now, as we take the step to become a separately listed company, it feels both exciting and, honestly, a little bit scary—but in a good way.”
“Coffee Stain Group has incredible talent, IPs and communities. To date, it has been a true recipe for success,” said Wingefors. “I am confident in Anton’s strategy and leadership and see a clear long-term opportunity in attracting and enabling partnerships with like-minded independent game developers and talents.”
