The board of gaming company Embracer has appointed Phil Rogers as its new CEO, effective August 1. This was announced in a press release.
Current CEO Lars Wingefors is proposed to be elected as executive chairman of Embracer at the annual general meeting on September 18. Kicki Wallje-Lund, current chair of the board, is proposed to be elected as vice chair of the board.
Phil Rogers is currently executive vice president of Embracer and CEO of the Crystal Dynamics operating group.
Lars Wingefors will not be part of the group management team as of August 1 and will remain in his role as board member until the annual general meeting. In his role as executive chairman, Wingefors will, in addition to his regular responsibilities as chairman of the board, focus on areas such as capital allocation, M&A, and strategy.
Jacob Jonmyren, current board member of Embracer, will be appointed chairman of the board of Coffee Stain Group. Lars Wingefors and Anton Westbergh, CEO of Coffee Stain, will be appointed board members of Coffee Stain. Additional members will be appointed prior to the spin-off of Coffee Stain and no later than August 2025, with the expectation that the board of Coffee Stain will meet the independence requirements of the Swedish Code of Corporate Governance.
Furthermore, Erik Sunnerdahl, current Group Finance Director at Embracer, has been appointed Chief Financial Officer of Coffee Stain.
As previously communicated, the intention is that Coffee Stain will be distributed to Embracer's shareholders and listed as an independent company on First North by the end of the 2025 calendar year. In connection with this, Embracer intends to change its name to Fellowship Entertainment.
Embracer Group AB, formerly THQ Nordic AB is a Sweden-based company engaged in the computer games development. The Company focuses on acquiring, developing and publishing personal computer (PC) and console games for Xbox and PlayStation platforms. The Company's game portfolio consists of owned franchises intellectual property (IP) and published titles, including Saints Row, Goat Simulator, Dead Island, Darksiders, Metro, MX vs ATV, Kingdoms of Amalur, TimeSplitters, Satisfactory and Wreckfest, among others. It offers games through various distribution channels, including digital platforms, such as Steam, PlayStation Store and Xbox Live, as well as gaming conventions, and global retailers, such as Walmart, GameStop and Amazon. The Company has around 18 internal game development studios and operates in more than 40 countries.
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