More trouble at Embracer Group is brewing, as it has been revealed that the Chief Operating Officer (COO) has left the company to form his own studio.
Egil Strunke, who’s been COO of Embracer Group for the last four years, announced that he had left the company last week. In a posting on his LinkedIn account, Strunke shares some mixed feelings about leaving Embracer, saying he’s been grateful for his time there while saddened that he’s leaving all the amazing folks he’s worked with there. And though the market has been rough recently, with Embracer’s studios being hit with layoffs, and the company outlining restricting plans, Strunke believes Embracer will come out of this stronger.
“I’ve reached a checkpoint and it’s time to embark on a new mission!
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. 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.
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. Then returning 2019 to a sizzling, acquisitional hotbed where new entrepreneurs and exciting studios were added quarter by quarter. Growing employees 14x to 16.500 and revenue 8x to circa 40 billion SEK in four years has been an amazing experience and adventure. 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 looks to the future as an entrepreneur with Strunke Games, outlining goals for the new studio.
“So now it’s time to become an entrepreneur (again). The goal of Strunke Games 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.
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. I have a broad skillset and experience and like to consider myself somewhat of a “Swedish army knife”.
We wish Strunke the best of luck in his future endeavors, as we do for Embracer Group.