Paradox Interactive CEO Fredrik Wester is stepping down, with deputy CEO Mattias Lilja assuming the role on January 4, 2027.
Wester will continue to lead the developer until this date. With Lilja as CEO, Wester will stay on Paradox’s board of directors to “focus on the company’s long-term development.” He will also remain the firm’s largest shareholder.
“My plan was never to be CEO for life,” said Wester. “The goal was to build the foundation before passing the baton on for the next chapter in the company’s journey. Since I returned as CEO, we’ve streamlined our strategy, rebuilt our pipeline and developed our commercial offering.”
“Mattias has had a central role in laying this foundation, and now is the right time to hand over. Given his experience and vision, he is exceptionally well positioned to take the company to its next level.”
Wester first became CEO of Paradox Interactive in 2009 after previously serving as EVP. He stepped down in 2018 to become executive chairman of the board, and returned as CEO in 2021.
“When I returned in 2021 the company needed a reset,” Wester added on LinkedIn. “At that time, I brought Mattias back with me to help turn things around and since then we’ve refocused, rebuilt and executed new initiatives across the board.”
Lilja joined Paradox in 2009 as the company’s first producer. He has since held key roles, including leading the studio and publishing organisations and serving as COO.
“I approach this role with great humility,” said Lilja. “Paradox has a unique DNA that has made us one of the greats in deep and engaging strategy and management games.”
Now we’re stepping up the pace: we will make further investments in our core business, push the boundaries of our game design, work even more closely with our loyal players, develop more and better tools and services that benefit both modders and players, and continue to sharpen our ways of working and our organisation, with player value in focus.”
“Following an icon of the industry leaves, to say the least, big shoes to fill,” he added on LinkedIn. “I’m deeply humbled by the task I’ve been entrusted with, but I can honestly say this feels like the best job in the world.”
Earlier this year, Paradox reported a 162% decline in operating profit following the poor performance of Vampire: The Masquerade – Bloodlines 2. The developer wrote down the game’s costs to SEK 355.3 million ($35.6 million).