Brian Ward Steps Down as Savvy Games Group CEO

Chief Executive Officer Brian Ward is stepping down from Savvy Games Group, the entity managing the Saudi Arabian government's $38 billion investment in the video-game industry. In a message to staff on Tuesday, Ward stated that the transition is necessary as the company enters a period of "transformational growth."

Turqi Alnowaiser, the deputy governor of the Public Investment Fund and Head of International Investments Division, will serve as interim acting CEO. Ward's tenure was marked by high-profile acquisitions, including the $4.9 billion purchase of Scopely and the acquisition of Pokemon Go from Niantic Inc., though investments in esports resulted in layoffs.

The leadership change follows the Public Investment Fund's $55 billion acquisition of Electronic Arts Inc. and a broader shift toward more disciplined investing. This trend has also led to the departure of other executives at Alat and Neo Space Group.