Lars Wingefors, co-founder and CEO of Embracer Group, announced he will step down from his role as CEO effective August 1, 2025. Wingefors, who has overseen a turbulent period marked by a $2 billion acquisition spree, numerous studio closures, and thousands of layoffs, will transition to the position of executive chair of the board starting September 18, 2025. In his new role, he will focus on mergers and acquisitions and capital allocation. Phil Rogers, previously CEO of Eidos and head of Square Enix's western business, has been appointed as the new CEO of Embracer. Wingefors described Rogers as "well-prepared" and "deeply respected." Wingefors expressed pride in the company's achievements despite the challenges faced during his tenure. The leadership change follows a period of significant restructuring within Embracer, with analysts noting the difficulty of continuing under the previous management structure.