PIF deputy governor Turqi Alnowaiser to become interim acting CEO, according to document obtained by Bloomberg

Brian Ward is stepping down as CEO of Savvy Games Group, according to a staff note obtained by Bloomberg.

"As Savvy embarks on its next period of transformational growth, this is the right time for new leadership for that evolution," Ward wrote.

Turqi Alnowaiser, deputy governor of Saudi Arabia's Public Investment Fund (PIF) and head of its International Investments Division, will serve as interim acting CEO.

Ward has served as CEO since Savvy Games Group was established in 2021, overseeing a $37.8 billion investment to expand Saudi Arabia's presence in the global games industry.

Savvy Games Group was set up and is wholly owned by the PIF, which Ward previously described as being part of Saudi Arabia's "economic diversification and social transformation."

During Ward's tenure, Savvy acquired several studios, including Moonton from Bytedance for $6 million earlier this year and Scopely for $4.9 billion in 2023.

Before joining Savvy, Ward held leadership roles at Electronic Arts, Xbox, and Activision.

Ward's decision to leave Savvy came just a month after EA was acquired for $55 billion by a consortium led by the PIF.

Bloomberg reports that this transaction "prompted concern internally at Savvy over how the two giant Saudi-owned video-game businesses will be run, according to people with knowledge of the companies who asked to not be identified."

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