Ubisoft he’s going through tough times. Already last week, the French company’s shares fell to a ten-year low. Presumably because of the adventure game’s worst outcome. Star Wars Criminalsfrom which more was expected, and a sharp decline in interest in the free-to-play shooter XDefiant.
Things didn’t improve on Monday, and investors’ patience is wearing thin. A major minority investor, through AJ Investments, even called on Ubisoft to make fundamental changes. In an open letter, he writes about Yves Guillemot’s mismanagement of the company. Shareholders to be exploited by Guillemot family and Tencent.
“Management is more focused on pleasing investors by delivering better quarterly results than on a long-term strategy to deliver an exceptional player experience,” the letter says. The investor was a long-time shareholder in Activision Blizzard and cannot understand the current management, which is focused on releasing several average games a yearwhich damages Ubisoft’s reputation among the gaming community. Instead, it needs blockbuster games from Ubisoft’s exceptional portfolio of brands.
Shareholder calls for new CEO, cost cutsincluding optimizing the number of employees (currently more than 19,000) to keep Ubisoft competitive. According to him, the previously announced strategy (cutting fixed costs by €150 million by 2024 and €200 million by 2025) is not enough. He even suggests selling some studios to reduce debt.
Last but not least, Ubisoft should consider going private. Yves Guillemot previously assured investors that the company would close later this year. Shadows of Assassin’s Creedwhich should be a blockbuster like Valhalla. But until then, shareholders will have to endure this. Personally, I’m surprised the investor didn’t call the problem by its name. Skull and crossbones.
Let us recall that Ubisoft’s share price has fallen more than 50% in the past year. On Monday, it was trading at €13.67. Meanwhile, Ubisoft is trying to lure players to XDefiant. To everyone who joins this free game, so offers bonusesUntil September 24, everyone who logs into the game should receive various bonuses every day, including a battle pass, an additional XP pack, or a weapon.
Source :Indian TV
