The CEO of troubled Swedish games firm Embracer Group, Lars Wingefors, has admitted that he is deserving of criticism for the current state of his company.

Speaking to GI.biz, the exec responded to some of the negative feedback he has received in the last year for some decision that he had undertaken. This included going into debt in acquiring Asmodee and failing to land a $2 billion investment from Saudi Arabia's Savvy Gaming that resulted in its house of cards of acquisitions and game development projects to come tumbling down.

Embracer is now splitting itself into three separate companies.

"I'm sure I deserve a lot of criticism, but I don't think my team or companies deserve all the criticism," Wingefor said.

"I could take a lot of that blame myself. But ultimately I need to believe in the mission we set out and that is still valid, and we are now enabling that by doing this [new] structure.

"I still feel I have the trust from many or all of my key entrepreneurs and CEOs that have joined the group. It's been difficult, but I think they all believed in the mission of Embracer. They also understand that the world has changed, we need to change. It's painful. We can't make all the games we wanted to make three years ago, but we need to adapt to it. We will still make games, we still have one of the biggest, if not the biggest, pipeline of games in the industry. And we have great plans over the coming years or decades."