It has been announced that Ubisoft’s Executive Committee and Board of Directors will launch an investigation and review of the company.
The news came via a company financial statement and update, which included the delay of Assassin’s Creed Shadows and the announcement that Star Wars Outlaws underperformed. The statement read:
“In the light of recent challenges, we acknowledge the need for greater efficiency while delighting players. As a result, beyond the first important short-term actions undertaken, the Executive Committee, under the supervision of the Board of Directors, is launching a review aimed at further improving our execution, notably in this player-centric approach, and accelerating our strategic path towards a higher performing model to the benefit of our stakeholders and shareholders.
Finally, let me address some of the polarized comments around Ubisoft lately. I want to reaffirm that we are an entertainment-first company, creating games for the broadest possible audience, and our goal is not to push any specific agenda. We remain committed to creating games for fans and players that everyone can enjoy.”
At the time of writing, Ubisoft stock has decreased to 11.42 euros and has drastically fallen these past few months. Last month, Insider Gaming reported that XDefiant was at risk of losing its much-needed post-launch support after dwindling player numbers and following the release of a mild Star Wars: Outlaws launch, Ubisoft’s stock price fell to a near 10-year low.
Speaking with current and former Ubisoft employees, I am told that the move was inevitable and “the writing was on the wall,” as many Ubisoft studios have been struggling due to poor management. While I have reported on some of these issues in the past, Insider Gaming will have a more in-depth report in the coming days or weeks.
For more Insider Gaming, read about what classic sports game is getting a re-release on Steam in October. And don’t forget to sign up for our weekly newsletter.
It took them this long?! Sell this dumpster fire already that’s what they were supposed to do a few years ago! The Guillemot’s will either sell or be removed by force.
Square Enix needs to be investigated to as well as a bunch of these companies.
Their priorities are in the wrong place.