Embracer has made some key changes to its executive management team as it begins an extensive restructuring of the group.

The company announced this morning that it was making significant changes to its operations in order to reduce its debts, and shift it from being focused on heavy investments to being a “highly cash-flow generative business.”

As part of this, Saber Interactive CEO Matthew Karch (pictured above left) is stepping down from his position and as a board member for Embracer Group to become interim chief operating officer.

Saber Interactive COO Andrey Iones will take over from Karch.

Meanwhile, Phil Rogers (pictured above right) will has been appointed interim chief strategy officer. He will retain his position as CEO of Crystal Dynamics – Eidos.

Following these changes, the group executive management is comprised of six people:

Lars Wingefors, CEO
Johan Ekström, CFO and Deputy CEO
Ian Gulam, Chief of Staff, Legal & Governance
Careen Yapp, Chief Strategic Partnerships Officer
Matthew Karch, interim Chief Operating Officer
Phil Rogers, interim Chief Strategy Officer

Embracer Group has confirmed the restructuring process will involve closing studios and cancelling projects, although no further details have been given.