Two weeks ago, the investment fund AJ Investments expressed a lack of confidence in Ubisoft's management and demanded radical changes — from the resignation of CEO Yves Guillemot to the sale of the company. In a statement to Reuters, the fund's representatives stated that they have garnered the support of 10% of Ubisoft's shareholders.
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AJ Investments declined to disclose who specifically supported the protest.
AJ Investments is only a minority shareholder of Ubisoft. It owns less than 1% of shares in the French publisher, so the fund needs to rally as many other shareholders as possible to put pressure on Ubisoft’s top management.
As a reminder, in an open letter criticizing Ubisoft, the fund stated that it is deeply concerned about the publisher's policies. In its view, the company's management is more concerned with attractive figures in financial reports than with creating quality games and working towards a long-term vision. As a result, Ubisoft has lost its footing in the gaming market and has significantly decreased in value over recent years.