Paradox Interactive CEO Fredrik Wester steps down; Mattias Lilja takes over Jan 4, 2027

Paradox Interactive CEO Fredrik Wester is stepping down. Deputy CEO Mattias Lilja will assume the role on January 4, 2027, and Wester will continue to lead the company until that date.

After the handover, Wester will remain on Paradox's board of directors to focus on the company's long-term development. He will also stay on as the firm's largest shareholder. Wester said his plan was never to be CEO for life, and that the goal was to build a foundation before passing the baton on. He said the company has streamlined its strategy, rebuilt its pipeline and developed its commercial offering since he returned.

Wester first became CEO in 2009 after serving as EVP. He stepped down in 2018 to become executive chairman of the board and returned as CEO in 2021. On LinkedIn he said the company needed a reset when he came back, and that he brought Lilja back with him to help turn things around.

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. He said Paradox will make further investments in its core business, push the boundaries of its game design and work more closely with its players. He also named more and better tools and services for modders and players, and continued work on ways of working and organisation, with player value in focus.

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).