Embracer CEO Admits Mistakes Were Made I Could Take a Lot of That Blame Myself
Wingefors comments on mass layoffs.
Following the collapse of a "verbal agreement" reportedly worth $2 billion with the Saudi-funded Savvy Games, Embracer Group entered into a brutal nine-month restructuring programme that resulted in the loss of some 1,400 employees and the cancellation of dozens of unannounced games. CEO Lars Wingefors, whose actions were recently defended by Saber Interactive CEO Matthew Karch ("give Lars a break"), in a new interview, says: "As a leader and an owner, sometimes you need to take the blame."
That restructuring is reportedly complete, separating the company into three presumably less-risky entities. Speaking to GamesIndustry.biz, the CEO used the opportunity to defend Embracers teams and their leaders: "It's been painful. But I still believe in what we do, in my teams, and in the vision we set out. I also believe the public markets, if we do it right, are a fantastic place to finance your business and tap into both investors and the debt market."
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