Leap of Faith – Shareholder’s open letter demanding management resignation further deepens crisis at French video game publisher
The weather is getting even darker for Ubisoft. On Monday, the publication of an open letter from an investor demanding nothing less than the sale of the group, the dismissal of the director and co-founder, Yves Guillemot, and a drastic reorganization of the company, set the video game publisher’s stock price on fire.
The Slovak fund AJ Investments is behind the snub: “We are writing to express our deep dissatisfaction with the group’s performance.” It is giving management sixty days before using “all means to achieve [son] but”, that is, to remove the Guillemot family from power and push them either to sell their shares or to take the company off the stock market by buying back the other shares. Although AJ Investments owns less than 1% of the shares, its case is symbolic of the shareholders’ distrust of Ubisoft.
Star Wars Outlaw sales disappoint
The reason is the relative failure, still difficult to measure, of Star Wars Outlaws, which suffered from its release at the same time as the blockbuster Black Myth : Wukong, which crushed the market in late August. For the largest marketing budget in the company’s history, sales expectations fell from 7-8 million (…) - 20minutes
Also read:
“The Crew” Shuts Down: Game Disappears “Overnight”… Gamers Revolt Against Publishers
“Creative Freedom” or “Insult to History”? French Ubisoft’s Black Samurai Creates Controversy in Japan
Summer Game Fest: The video games of the coming months will not shake up the gaming world
Video games: Thanks to consoles, the French market is recovering
After eleven years of development, Ubisoft’s pirate game “Skull & Bones” will be released at all costs
