“Lord of the Rings” owner Embrace Group has unveiled a dramatic company restructure including the appointment of a new COO, a new CSO, studio closures and lay-offs. “Today we announce a…
” owner Embrace Group has unveiled a dramatic company restructure including the appointment of a new COO, a new CSO, studio closures and lay-offs.
The program is divided into different phases until March 2024 with focus on cost savings, capital allocation, efficiency and consolidation. The initial phase, which is initiated immediately, mainly targets cost savings across the group. The next phase, which also starts immediately, will require further analysis to determine specific actions. The last phase will focus on internal consolidation, further resource utilization and more synergies across the Group.
Our new executive management team members, Matthew Karch and Phil Rogers, will work to implement a revised, thorough review process for investments in our ongoing and potential new game development projects. They will also take the lead on further consolidation of operations, including review of the operative group structure. We will have an increased focus on accountability across the group, ensuring performance is in line with or exceeding current targets.
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