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Embracer Group AB has announced that, as part of the preparations for the separation of Coffee Stain Group AB (CSG), Anton Westbergh is no longer a member of Embracer's executive management team. A board of directors for CSG, the parent company and future listed entity, has also been appointed. 

"Coffee Stain Group has thrived as part of the Embracer Group, with successful titles such as Deep Rock Galactic, Goat Simulator, Satisfactory, Teardown, Valheim and Welcome to Bloxburg. We now take the next step and prepare to stand on our own. We are pleased to have strengthened the board of directors with Sara Börsvik, Henrik Tjärnström and Kicki Wallje-Lund. The board looks forward to supporting Anton Westbergh as CEO in delivering fun and innovative gaming experiences that resonate with engaged communities worldwide", says Jacob Jonmyren, Chair of the Board of CSG.

Anton Westbergh's departure from Embracer's executive management team is part of the process of preparing CSG to become a stand-alone listed entity. In May 2025, it was announced that Anton Westbergh, CEO and Co-Founder of Coffee Stain, would become Group CEO of CSG.

The board of directors for CSG consists of:
- Jacob Jonmyren, board member of Embracer and Asmodee Group AB, chair of the board
- Sara Börsvik, board member of Aktiebolaget Svensk Filmindustri, G5 Entertainment AB and BIMobject AB, and CFO of Epidemic Sound AB
- Henrik Tjärnström, board member of Football Analytics Sweden AB and CEO of BetCentury Group AB
- Kicki Wallje-Lund, chair of the board of Embracer and deputy chair of the board of Asmodee Group AB
- Anton Westbergh, CEO of CSG
- Lars Wingefors, co-Founder of Embracer, board member of Embracer and chair of the board of Asmodee Group AB

Provided that everything goes according to plan, the demerger should be completed by the end of 2025. The company will also be listed on the stock exchange. In connection with this, Embracer will evolve into Fellowship Entertainment, which will remain listed on Nasdaq Stockholm.

The Coffee Stain Group will consist of over 250 people from the gaming industry, including developers and publishers focused on community-driven experiences. It will comprise Coffee Stain, Ghost Ship and Tuxedo Labs, as well as certain studios from Amplifier Game Invest, which are all based in Scandinavia. The group's intellectual properties (IPs) include games such as Deep Rock Galactic, Goat Simulator, Satisfactory, Teardown, Valheim and Welcome to Bloxburg. In FY 2024/25, Coffee Stain Group generated net sales of SEK 1,089 million (around €98.5 million), and adjusted EBIT of SEK 544 million (around €49.2 million).

At the time of the spin-off of the Coffee Stain Group, Embracer will be renamed Fellowship Entertainment (previously working under the name 'Middle Earth & Friends'). Fellowship Entertainment will have a workforce of around 6,000 people spread across more than 30 countries. The group will consist of companies such as 4A Games, Aspyr Media, CrazyLabs, Crystal Dynamics, Dambuster Studios, Dark Horse, Deca Games, Eidos-Montréal, Flying Wild Hog, Gunfire Games, Limited Run Games, Middle-earth Enterprises, Milestone, Plaion, Tarsier Studios, THQ Nordic, Tripwire Interactive, Vertigo Games and Warhorse Studios, as well as more than 40 others. The group will hold the commercial rights to J. R. R. Tolkien's works The Hobbit and The Lord of the Rings, as well as the intellectual properties Kingdom Come: Deliverance, Dead Island, Killing Floor, Darksiders, Remnant, and Tomb Raider, among more than 300 other gaming IPs.

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Separation of Coffee Stain Group From Embracer Moves Forward