CEO of Saudi Arabia's Savvy Games Group Brian Ward steps down after overseeing billions in mobile gaming acquisitions
Brian Ward, the CEO of the Saudi-Arabian-state-owned Savvy Games Group, has left his role.
Brian Ward, the CEO of the Saudi-Arabian-state-owned Savvy Games Group, has left his role.
The short version
- During his tenure, he oversaw $38bn of investment into various gaming companies, including Pokemon Go developer Niantic, and Monopoly Go's Scopely.
- In a message sent to staff, verified by Bloomberg , Ward wrote: "As Savvy embarks on its next period of transformational growth, this is the right time for new leadership for that evolution".
- His role will be filled temporarily by Turqi Alnowaiser, deputy governor of the Public Investment Fund and Head of its International Investments Division.
What happened
This departure comes shortly after Saudi Arabia's leveraged buyout of EA for an eye-watering $55bn , its largest investment in the gaming industry yet and the largest acquisition of its type in history. According to sources speaking to Bloomberg, the Electronic Arts acquisition has sparked concern internally at Savvy over how the two giant Saudi-owned video-game businesses will be run.
Why it matters
Speaking to Eurogamer, author of Power Play and writer of the games industry memo George Osborn, said: "Objectively speaking, he’s done a good job in a tough brief.
Summary by Nerd News Network. Read the full article at Eurogamer via the links above and below.