Embracer's new CEO says trust is improving after years of turmoil

Phil Rogers became Embracer's CEO in 2025 after serving as interim chief strategy officer. He had drawn criticism a few years earlier when he described the company's slash-and-burn restructuring as "how we win." The leadership change left Lars Wingefors as executive chair, a role in which he will focus on "mergers and acquisitions and capital allocation." Embracer announced the end of that restructuring in March 2024 with the sale of Gearbox, but layoffs and closures continued.

In October 2025 it sold off Arc Games and Cryptic Studios, and in March 2026 it laid off 124 people at Eidos Montreal—the fourth round of layoffs at the studio since January 2024. The group has restructured three times in recent years.

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