Embracer Group COO Egil Strunke has announced his departure after a tumultuous year for the company. Following a series of high profile acquisitions, Embracer spent most of 2023 shedding staff. It also shuttered Saints Row developer Volition, which had been in operation for 30 years.
Embracer Group COO acknowledged “rough year” before stepping down
In a lengthy note on LinkedIn, Strunke acknowledged a “rough year” for Embracer and pinned the blame on “general market changes.” Rumor has it that Embracer’s financial troubles began when a major deal with a Saudi Arabian company fell through.
“My history with the group spans across two four-year stints, first 2011-14 – the early foundational days with acquiring assets from Jowood and THQ and planting the seeds to what we then didn’t know would become Embracer Group,” Strunke wrote, adding that despite a difficult year, he remains positive that “Embracer will come out stronger and with a long, bright future ahead of them.”
Strunke isn’t leaving the games industry. Instead, he has founded Strunke Games and his goal is to “support and be involved in some of the most interesting gaming studios, companies and projects around the globe as the games industry continues its constant change.”