In a major leadership shake-up, Embracer Group AB has announced that industry veteran Phil Rogers will take over as Chief Executive Officer starting 1 August 2025. The transition marks a significant shift for the Swedish gaming conglomerate as it continues its massive structural overhaul.

Phil Rogers, who currently serves as Deputy CEO of Embracer and CEO of the operative group Crystal Dynamics Eidos, brings over 20 years of experience in the games industry. His resume includes top leadership roles at Eidos and Square Enix’s Western division, where he oversaw iconic studios and franchises such as Tomb Raider, Deus Ex, and Thief.

Rogers’ appointment comes as part of a larger transformation effort that also includes the spin-off of Coffee Stain & Friends and Middle-earth Enterprises & Friends into two separately listed entities. This restructuring is aimed at streamlining Embracer’s vast empire and unlocking greater shareholder value following a turbulent period of overexpansion, layoffs, and studio closures.

The man he’s replacing, Embracer co-founder Lars Wingefors, has been the face of the company’s rapid rise and even more dramatic recent contraction. Wingefors led the company through a $2 billion acquisition spree that ballooned Embracer’s portfolio to include over 100 studios, dozens of publishing labels, and IPs such as Saints Row, Metro, Borderlands, and The Lord of the Rings.

While stepping down from the CEO role, Wingefors isn’t leaving Embracer behind. He is set to be elected Executive Chair of the Board following the company’s Annual General Meeting on 18 September 2025. In this role, he’ll focus on long-term strategy, mergers and acquisitions, and capital allocation remaining closely tied to the company’s future direction.

“I am humbled and honoured to be entrusted with the CEO role of Embracer Group,” said Rogers in a press release. “We have extraordinary teams and world-class IP across our group. I’m excited to help shape the next chapter of this incredible journey.”

Wingefors also praised the move, calling Rogers “a trusted leader with deep operational experience and a clear vision for where the company needs to go.”

The appointment follows an intense year for Embracer, which has spent the last 12 months attempting to stabilise after a failed $2 billion deal in 2023 and a series of painful studio closures, project cancellations, and job losses. The structural reorganisation meant to reduce complexity and improve accountability continues to reshape the company’s identity in the global games industry.

Phil Rogers will now lead the core business of what remains under Embracer Group following the spin-offs. With his track record of managing both creative talent and corporate operations, industry analysts see him as a stabilising force for a company that has grown too fast and too wide in recent years.

This leadership handover signals a new era for Embracer, one where consolidation, efficiency, and value creation may take precedence over sheer scale. Whether Rogers can deliver on this mandate remains to be seen but after years of aggressive expansion, Embracer’s next phase will be just as closely watched.

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