A minority shareholder in Ubisoft, represented by AJ Investments CEO Juraj Krúpa, is organizing a protest at the company's Paris headquarters. Krúpa accuses Ubisoft of mismanagement and lack of transparency, particularly regarding alleged discussions with Microsoft, EA, and other publishers interested in acquiring Ubisoft's franchises. He claims that Ubisoft has not disclosed these discussions to the public and has also failed to reveal a partnership with the Saudi investment firm Savvy Group for an Assassin's Creed Mirage DLC.
Krúpa's statement highlights Ubisoft's declining shareholder value, poor operational execution, and inability to adapt to market trends. He demands a clear recovery roadmap from Ubisoft's senior management. Additionally, he criticizes the company for the multiple delays of Assassin's Creed Shadows, initially postponed on July 18, 2024, and then again in September 2024, with the latest release date set for March 20, 2025. These delays, according to Krúpa, led to significant stock declines, adversely affecting retail investors while benefiting larger institutional investors.
Ubisoft's management, advised by Goldman Sachs and JP Morgan, is currently reviewing strategic options, which AJ Investments hopes will lead to increased shareholder value. If this review proves successful, AJ Investments will cancel the planned protest. However, if not, they are prepared to sue Ubisoft for misleading investors.
This is not the first time AJ Investments has voiced concerns; in September, they issued an open letter urging Ubisoft to consider going private and change leadership following the disappointing performance of Star Wars Outlaws, which led to a sharp decline in Ubisoft's share price.
IGN has reached out to Ubisoft for a comment on these allegations.
For several years, Ubisoft has been facing challenges, including high-profile flops, layoffs, studio closures, game cancellations, and numerous delays. Rumors continue to circulate about potential strategic moves, with some reports suggesting that Tencent may be hesitant to further invest due to the Guillemot family's desire to retain control. Without Tencent's backing, few other entities have the resources to help Ubisoft recover.
AJ Investments is calling on all Ubisoft investors frustrated with the company's stagnation and lack of decisive action to join their protest in May, emphasizing the need for transparency, accountability, and a strategy that maximizes shareholder value.
