Memo: Savvy Games Group CEO Brian Ward, who oversaw the Saudi Arabian government's $38B investment in the video game industry since 2021, is stepping down (Cecilia D'Anastasio/Bloomberg)

Brian Ward, the CEO of Savvy Games Group, has announced his resignation, as reported by Bloomberg. Ward, who has been leading the company since its inception in 2021, will be replaced by Turqi Alnowaiser, deputy governor of Saudi Arabia's Public Investment Fund (PIF) and head of its International Investments Division, who will serve as interim CEO.

Savvy Games Group, a wholly-owned subsidiary of the PIF, has invested $37.8 billion in the global games industry, acquiring studios like Moonton and Scopely. Ward's departure comes just a month after EA was acquired by a consortium led by the PIF, raising concerns about the management of the two significant Saudi-owned video-game businesses.

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