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Mattias Lilja takes over as CEO and will lead Paradox Interactive AB (publ) to its next level
Fredrik Wester continues as member of the Board of Directors, focusing on the company's long-term development
The Board of Directors of Paradox Interactive AB (Paradox) has appointed Mattias Lilja, today Deputy CEO, as the new CEO effective 4 January 2027. Mattias Lilja will succeed Fredrik Wester, who has informed the Board that he has decided to step down as CEO to continue focusing on the company's long-term development as a member of the Board. Fredrik Wester remains CEO until Mattias Lilja assumes the position to ensure an orderly transition.
The change is a natural evolution of how the company is already led. Since 2021, Mattias Lilja has taken on increasing responsibility for operations and the execution of the company's strategy, while Fredrik Wester has placed increasing focus on the company's long-term development and goals. The company's strategic direction remains firm and Fredrik Wester remains the largest shareholder in Paradox.
"I'm truly grateful to all our engaged players and talented colleagues who contribute to outstanding gaming experiences every day. They are the ones who made these years amazing. My plan was never to be CEO for life. 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," says Fredrik Wester.
"The Board wants to thank Fredrik for his visionary leadership and outstanding contributions over these years. As a result, Paradox is in a strong position at a time when much of the industry is facing major challenges. We look forward to continuing to collaborate closely on the Board. Mattias is the right person to lead the company going forward. He combines a strong vision with deep operational and commercial expertise; he is more than ready to assume the role and lead Paradox towards new gaming experiences that last for decades," says Håkan Sjunnesson, Chairman of the Board.
"I approach this role with great humility. 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," says Mattias Lilja.
About Mattias Lilja
Mattias Lilja is currently Deputy CEO and returned to Paradox when Fredrik Wester took over as CEO in 2021. Mattias has played a central role in Paradox's development since 2009, when he joined as the company's first producer. Since then, he has headed Paradox's studio organisation, led Publishing, and later served as COO, among other roles. Under his leadership, Paradox launched several of the franchises that have shaped its current portfolio, including Cities: Skylines, Hearts of Iron IV and Stellaris. Since 2021, he has focused on the company's strategic and cultural development as well as building an efficient core business with close player relationships.
This disclosure contains information that Paradox Interactive AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 11-11-2026 18:25 CET.