Fragbite CEO Marcus Teilman has resigned to “pursue new challenges” one day after the publisher declared Alara Prime developer Fall Damage bankrupt.
The Swedish video game and esports company has named chairman Stefan Tengvall as interim CEO. Tengvall will step down as chairman of the board as a result but will remain a board member. Board member Sten Wranne will replace him as chairman.
“The board and I thank Marcus for his efforts and his commitment to Fragbite Group during his time as CEO and wish him the best of luck in the future. The company has initiated a cost reduction programme with the aim of securing a healthy cash flow in both the short and long term,” said Tengvall in a press release.
“Further examining the costs of the gro…
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