Mike Richardson is out as CEO of Dark Horse Entertainment after roughly four decades running the company he founded.
The move comes from parent company Embracer Group, which purchased Dark Horse in 2022. Richardson had remained in charge following the acquisition but has now been replaced by gaming executive Jay Komas, who will serve as interim CEO.
Dark Horse was launched by Richardson in 1986 and grew into one of the biggest independent comic publishers in the industry, known for titles including Hellboy, The Umbrella Academy, and licensed properties such as Star Wars, Aliens, and Predator.
Embracer Announces Leadership Change
In announcing the decision, Embracer said the change is part of a broader effort to integrate Dark Horse more closely with its larger entertainment portfolio.
“As part of our long-term vision to better align Dark Horse within a more connected and forward-looking group structure, we are implementing changes to modernize the business and strengthen collaboration across publishing, games, film, merchandise and other key areas,” Embracer said in a statement sent to business partners and creators in announcing the one-two punch of firing and promotion. “Our goal is simple: to ensure Dark Horse is positioned for sustained success while continuing to serve creators, partners and fans at the highest level.”
Jay Komas Named Interim CEO
Embracer has installed Jay Komas as interim CEO. The executive comes from the gaming side of the company and brings experience managing large entertainment franchises across multiple platforms.
Komas, the company stated, “brings extensive experience with global intellectual properties across games, film and consumer products. Over the course of his career, he has held senior leadership roles at Electronic Arts, Activision Blizzard and LucasArts, where he worked with some of the most recognized entertainment brands in the world. His background in managing and expanding IP across multiple categories will be instrumental as we build on Dark Horse’s legacy and strengthen its position in an increasingly connected entertainment landscape.”
End Of An Era For Dark Horse
Richardson founded Dark Horse after previously running a comic book store business in Oregon. Under his leadership, the company became one of the most influential independent publishers in comics, especially during the 1990s indie boom.
The company also expanded into film and television through Dark Horse Entertainment, producing projects such as The Umbrella Academy and several Hellboy adaptations.
Richardson remained CEO when Embracer acquired Dark Horse in 2022 as part of the gaming giant’s push to expand into transmedia storytelling across comics, games, film, and merchandise.
His exit now marks a major shift for the publisher as Embracer looks to reshape its entertainment divisions.
Embracer Facing Financial Pressure?
The leadership shakeup also comes as Embracer continues dealing with financial pressure across multiple divisions.
The company’s latest investor report shows major declines in revenue across several operating segments, highlighting the broader restructuring underway.
- Net sales decreased by -26% (-8% organic growth) to SEK 5,176 million (6,985).
- PC/Console Games: decreased by -11% (-3% organic growth) to SEK 1,989 million (2,223).
- Mobile Games: decreased by -66% (-15% organic growth) to SEK 566 million (1,669).
- Entertainment & Services: decreased by -15% (-10% organic growth) to SEK 2,621 million (3,093).
