Brian Ward is stepping down as CEO of Savvy Video games Group, based on a employees notice obtained by Bloomberg.
“As Savvy embarks on its subsequent interval of transformational development, that is the appropriate time for brand new management for that evolution,” Ward wrote.
Turqi Alnowaiser, deputy governor of Saudi Arabia’s Public Funding Fund (PIF) and head of its Worldwide Investments Division, will function interim appearing CEO.
Ward has served as CEO since Savvy Video games Group was established in 2021, overseeing a $37.8 billion investment to expand Saudi Arabia’s presence within the international video games trade.
Savvy Video games Group was arrange and is wholly owned by the PIF, which Ward previously described as being part of Saudi Arabia’s “financial diversification and social transformation.”
Throughout Ward’s tenure, Savvy acquired a number of studios, together with Moonton from Bytedance for $6 million earlier this yr and Scopely for $4.9 billion in 2023.
Earlier than becoming a member of Savvy, Ward held management roles at Digital Arts, Xbox, and Activision.
Ward’s choice to depart Savvy got here only a month after EA was acquired for $55 billion by a consortium led by the PIF.
Bloomberg studies that this transaction “prompted concern internally at Savvy over how the 2 big Saudi-owned video-game companies shall be run, based on individuals with data of the businesses who requested to not be recognized.”