A Ubisoft investor claims to have the 10% support from the company’s shareholders to try to shake up its top management, evidently considered incapable of reviving it from the current situation. Among the hypotheses put forward is also that of selling it to third parties. According to Reuters, AJ Investments says it is looking for backers to sell the company and obtain a change in leadership.
Incompetent managers
“We are calling on Ubisoft’s management to allow the sale of the company to a third party or private equity firm at a fair price,” the company, which owns less than 1 percent of the business, said in a letter shown to Reuters. Other investors who have reportedly backed the venture were not named. Reuters’ request to name them was denied.
It’s been since the beginning of September that AJ Investments has begun its siege on the Guillemot castle. At the time, he accused Ubisoft of being poorly managed, while Ubisoft shareholders were described as “hostages of members of the Guillemot family and Tencent, who are taking advantage of them.”
“Management is focused on pleasing investors by improving quarterly results, not on a long-term strategy based on providing an exceptional experience to players“, he said in his first letter, where he later explained that he has extensive knowledge of the video game industry. The latest letter has not yet been made public.
AJ Investments’ initiative starts from deep crisis in which Ubisoft finds itselfbetween results that are struggling to arrive, despite big titles like Star Wars Outlaws, important postponements like that of Assassin’s Creed Shadows and live services with poor results like XDefiant. The company’s shares have fallen to their lowest in 11 years and continue to fall, a sign of the markets’ lack of confidence.
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