Embracer Group Chief Operating Officer (COO) Egil Strunke has confirmed his departure from the company, after a rough year filled with structural changes, studio closures, major layoffs, and financial hardship. Sharing the news on LinkedIn (via VGC), Strunke described “mixed feelings” about his parting – sadness at leaving colleagues, and excitement about the future, and starting his own company.
“Last week I left Embracer Group as COO, and it’s with mixed feelings I am parting ways this global company phenomenon, rooted in Karlstad, Sweden,” Strunke wrote. “On one hand grateful for having had the chance to work with the one-of-a-kind Lars Wingefors and all the other AMAZING colleagues (too many to mention!) which I will be sad to leave. On the other hand excited about the opportunities that lie ahead – starting and building my own company: Strunke Games.”
As noted by Strunke, he devoted eight years to Embracer Group in its various forms, across two major stints. While Strunke oversaw a major boom period for the company, which included the acquisition of a number of game studios, and growth in both employees and revenue, Embracer’s trajectory also wound up shifting drastically during his tenure.
In the last year, Embracer Group has struggled to reach its financial goals, with a major US $2 billion deal recently collapsing, contributing to the closure of Volition, and layoffs at Crystal Dynamics, 2K Games, Private Division, Firaxis Games, and more.
Read: Embracer Group reportedly considering Gearbox sale, as layoffs continue
Strunke has acknowledged these challenges in his LinkedIn post, labelling his last year at Embracer Group “rough” while sharing hope for the future.
“Although the last year has been rough, in line with general market changes and industry consolidation, I am positive that Embracer will come out stronger and with a long, bright future ahead of them,” Strunke said.
Going forward, the former COO will focus on establishing his own business, Strunke Games, with a view to support “interesting gaming studios, companies and projects around the globe as the games industry continues its constant change.”
“I’m open to discuss all kind of consultancy assignments; strategy, scaling up/down, creating new business opportunities, utilizing my network, interim management roles, studio/game project evaluation/DD, investment opportunities, board or advisory function, mentor-/leadership and more,” Strunke said. “If you have any specific needs where you need a fresh pair of eyes, creative thinking or just want to discuss some early stage ideas – let’s get in touch!”
