Ubisoft announces leadership for Tencent-backed subsidiary

Ubisoft has appointed Christophe Derennes and Charlie Guillemot as co-CEOs of the company’s new subsidiary.

Originally announced in March of this year, the subsidiary, which is being created in partnership with Tencent, is counting on some familiar names for its leadership. Derennes has been with Ubisoft for over 35 years, most recently acting as managing director for Ubisoft North America. Meanwhile, Guillemot oversaw Ubisoft-owned studio Owlient, and returned to the company this year as part of the internal transformation committee. He’s also the son of Ubisoft co-founder and CEO Yves Guillemot.

In an interview with Variety, the site asked Yves how he would address any concerns of nepotism regarding Charlie’s appointment as co-CEO. The younger Guillemot addressed the question directly, saying that he “understands where it comes from,” but his “appointment isn’t only about family ties; it’s about what Ubisoft needs at this moment.”

A pivotal moment for Ubisoft (and Tencent)

Charlie Guillemot considers Ubisoft “at a pivotal moment.” He’s hoping to help push the company forward, as well as “creating the right environment for teams to take the creative and technical risks needed to make excellent games.”

The subsidiary, backed by an investment of €1.16bn (around $1.25 billion USD) from Chinese conglomerate Tencent, which owns a minority stake, aims to “accelerate the growth” of Assassin’s Creed, Rainbow Six, and Far Cry. “The company’s new subsidiary will focus on building brand ecosystems capable of becoming evergreen, billion-euro franchises,” reads a press release.

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Regarding Derennes successor, a Ubisoft spokesperson told Variety that “this is an ongoing transformation,” and that there’ll be “more to share on the final details of the organization at a later date.” The creation of the subsidiary is “progressing well,” and while Tencent’s investment is subject to regulatory approvals, it is expected by the end of 2025.

Last week, Ubisoft confirmed layoffs at Ubisoft Red Storm, affecting 19 workers. Meanwhile, three former executives at the company were sentenced to suspended prison terms, with charges including sexual assault and “enabling a culture of sexual and psychological harassment.”