Ubisoft Board Orders Internal Investigation and Review into Company's Financial Woes | Push Square
The powers-that-be at Ubisoft, the Executive Committee and the Board of Directors, have announced an internal review and investigation of the company. This follows several setbacks for the firm, including (but not limited to) soft sales of Star Wars Outlaws and a big delay for Assassin's Creed Shadows. Most critical of all, however (and ultimately a product of the rest) is a stock price that has continued to nosedive in recent years, €11.42 per share at the time of writing.
That's down from a five-year high of €85.18, which is catastrophic stuff for a publicly traded publisher/developer of Ubisoft's size (employing a frankly absurd 19,000 staff; for comparison, SIE, across all studios, employs around 13,000). News comes to us by way of the French firm's latest financial statement and update (thanks, Insider Gaming), which reads:
«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.»
Interestingly, the statement addresses the «polarized comments around Ubisoft», presumably regarding the various controversies surrounding Assassin's Creed Shadows: «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.»
Staying in the shadows
Laying low for a while
How optimistic are you feeling about Ubisoft these days? What do you think about the Board's investigation? That sounds fairly serious, right? Let us know in the comments section below.
Khayl Adam is Push Square's
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