Frogbite CEO resigns, Stefan Tengvall appointed as interim CEO

May 24, 2024 by No Comments

In an officer press releaseFrogbite has confirmed that CEO Markus Teilmann has officially resigned and Stefan Tengvall will now serve as interim CEO.

The post explains that Teilman chose to resign to “pursue new challenges.” It’s very vague, and the press release doesn’t elaborate on Teilman’s plans. But Tengwal and the board thanked him for being CEO.

Teilman will “support Stefan Tengvall” during the transition. Due to the shakeup, Sten Wran will now take over Tengwal’s role as chairman of the board.

Tengwal explained his goals as interim CEO. They mentioned plans for a “cost reduction program” and “identifying opportunities for restructuring”. This may indicate that serious reductions may be on the way, but that’s just speculation.

The change in leadership closely follows Frogbite’s filing for bankruptcy for development studio Fall Damage.

Fragbite recently acquired Fall Damage in late 2023. However, a statement from Fragbite cited an “unstable financial situation” following efforts to find a publisher for Fall Damage’s shooter Alara Prime.

Finding a publisher can be difficult as the industry is confusing. There are certainly more layoffs, such as Take-Two’s layoff announcement from last April. But it looks like the search for Alara Prime Publisher is still on at this point.

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