Wrocław, 21 April 2020
Ten Square Games Group, which produces and distributes Free to Play (F2P) games, today announced plans to change the composition of the Management Board. Maciej Zużałek is to take over the position of President, replacing the founder and largest shareholder of the Group, Maciej Popowicz, who will continue to manage the Group’s strategy and product policy.
Maciej Zużałek is to become President of the Management Board of Ten Square Games Group in June 2020, after fulfilling formal requirements such as adoption of relevant resolutions by the Supervisory Board and the General Meeting of Shareholders. The experience he brings to TSG includes over 20 years of working for international companies, including Andersen, E&Y and Enterprise Investors. Since 2007, he has worked for the international private equity fund Bridgepoint, where he was responsible for its investment activities in Poland and the CEE region and investment supervision over the fund’s portfolio companies.
For many years Maciej Zużałek has sat on the supervisory boards of a number of consumer goods companies, including Smyk, bike24, Dr Gerard and Grupa o2. Since 2017 he has been the Chairman of the Supervisory Board of Ten Square Games Group.”I have served as Chairman of the Management Board continuously since Ten Square Games was founded in 2011 and this is the greatest business adventure of my life. We started out as an organization with a few people in a ten square metre room and today we are dealing with a company that employs several hundred people. I am particularly proud of the team that we managed to build. I am fortunate that TSG is full of extremely talented, dedicated and passionate people who build this company every day. In the near future we will look at potential market opportunities in terms of M&A transactions. At the same time, we are strongly expanding our product portfolio and opening a new studio in Warsaw. If ever the Management Board needed to be strengthened, this is the moment now. After reviewing the candidate market, we have come to a conclusion, that the company at the current stage of development will greatly benefit from the skills and experience of Maciek Zużałek. For almost three years he has been involved in building the success of TSG and we believe that together we can introduce TSG to a whole new level of development. – says Maciej Popowicz, CEO of Ten Square Games.”
Ten Square Games is a great, young and energetic team of people who, in less than a decade, have built a unique know-how in the F2P segment that gives the Company the potential for long-term growth. I have known the founders of TSG for many years, and the Company from the very beginning. We have been formally cooperating since 2017, when I assumed the position of the Chairman of the Supervisory Board, and I am pleased to have the opportunity to get involved in the development of TSG
full-time. We see further business development based on three basic foundations: the continuously expanded competence centre in our HQ in Wrocław, the opening of new development studios in other locations (starting with Warsaw) and finally – potential M&A transactions. – says Maciej Zużałek, candidate for the position of President of the Management Board of Ten Square Games.
“I believe that strengthening the Board of Directors will allow us to further build value for the shareholders of Ten Square Games, and this does not mean a change in the approach to business, but rather its evolution, continuing with the same people working in a different, more effective constellation. Arek Pernal and I are not going anywhere and we intend to continue working very actively for the success of the company. I’ll focus, formally outside the board, mainly on product strategy and development of teams creating new games, while Arek, as before, will manage the operational and administrative side of the business as Vice President of the Management Board.”- adds Maciej Popowicz.
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Ten Square Games S.A. is one of the largest mobile game producers and publishers in Poland. The company was founded in 2011 by Maciej Popowicz and Arkadiusz Pernal.
Ten Square Games specializes in hobby games. It produces and publishes free-to-play games, generating revenues from micropayments (for obtaining paid functionalities in the game) and advertisements. The games of Ten Square Games are offered on the most important mobile platforms – iOS and Android and through Internet portals.
Ten Square Games has developed over 200 games so far. The best known projects are Let’s Fish and Fishing Clash – currently the most popular fishing game in the world.
In April 2018 Ten Square Games conducted a public share issue (IPO). The value of the offer was over 94 million PLN. On 11 May 2018 the shares of Ten Square Games debuted on the Warsaw Stock Exchange. On June 15, 2018, the company joined the sWIG80 index, and on March 18, 2019, a new sector index on the Warsaw Stock Exchange, bringing together game producers – WIG.Games. Since 23 September 2019 the shares of Ten Square Games S.A. are included in the mWIG40 index.More information:
More information: https://tensquaregames.com/investors/
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