British investment fund Abri Advisorsholding part of shares CD Projekt, made a statement to the board of directors demanding to immediately withdraw Adam Kiczynski and Marcin Ivinsky from leadership positions in connection with the unsuccessful launch of the role-playing game Cyberpunk 2077 and a sharp drop in the company’s market capitalization. This is reported by the edition Bloomberg… If the appeal is not met, Abri Advisors will call on the shareholder group to replace the entire board of trustees.
The investment fund noted that it was extremely disappointed with the management of CD Projekt and everything that happened in the company over the past year.… Cyberpunk 2077 turned the console audience away from the CD Projekt RED studio, flew out of the PlayStation Store and led to a 57% drop in the value of the Polish holding’s shares ($ 6.2 billion or 22.6 billion zlotys), according to the material. In addition to this, there was an unpleasant incident with the hacking of the company’s servers – hackers threaten to leak into the network not only the source codes of the developers’ key games, but also the SDK of the next generation consoles.…
“All this is just shocking. Even on purpose, it seems to me, you cannot make as many blunders as the leaders of CD Projekt made,” said a spokesman for Abri Advisors.
What percentage of CD Projekt’s shares belong to Abri Advisors is unknown, but the fund told reporters that it is interested in increasing its share.
Making changes to the management team of the holding is an extremely difficult task, writes Bloomberg, since the current bosses, together with the brother of the CEO, own at least 34% of the shares. The resignation of Kichinsky and Ivinsky is possible only if 3/5 of the shareholders vote for it, which seems unlikely.
CD Projekt is aware of the Abri Advisors’ appeal and is preparing an official response.
The company is currently facing litigation initiated by other investors.
Earlier, CD Projekt announced a drop in profits and classified sales of Cyberpunk 2077…
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