Their piece of shit CEO, Lars Wingefors, was in discussion with a gulf national fund on a huge $2 billion investment.
He never got anything legally binding, but before securing the investment he went on a massive spending spree.
The national fund got cold feet and Wingefors had to cut up all of Embracer to account for his mistake.
You would think such a childish error would result in immediate dismissal and essentially a permanent blacklisting from executive positions (not only in the gaming industry).
Nothing like that happened, I believe the Embracer board is full of his friends and family. He just went with it.
This is the kind of stuff that shows that polemics around hard works and meritocracy are at least partially propaganda to keep the plebs in line.
Embracer is also splitting into three separate companies to shed the tainted Embracer name, all still owned and run by Wingefors of course.
Asmodee Group (for board games) and Coffee Stain Publishing (for indie games) are the only two with official names last I heard. The unnamed third is the big one and Embracer’s direct successor, but I guess they’re delaying naming it to minimize bad press associated with the new name.
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Some background on Embracer.
Their piece of shit CEO, Lars Wingefors, was in discussion with a gulf national fund on a huge $2 billion investment.
He never got anything legally binding, but before securing the investment he went on a massive spending spree.
The national fund got cold feet and Wingefors had to cut up all of Embracer to account for his mistake.
You would think such a childish error would result in immediate dismissal and essentially a permanent blacklisting from executive positions (not only in the gaming industry).
Nothing like that happened, I believe the Embracer board is full of his friends and family. He just went with it.
This is the kind of stuff that shows that polemics around hard works and meritocracy are at least partially propaganda to keep the plebs in line.
Embracer is also splitting into three separate companies to shed the tainted Embracer name, all still owned and run by Wingefors of course.
Asmodee Group (for board games) and Coffee Stain Publishing (for indie games) are the only two with official names last I heard. The unnamed third is the big one and Embracer’s direct successor, but I guess they’re delaying naming it to minimize bad press associated with the new name.