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Ubisoft installs Spotify-honed operator Natalie Francis as Massive CEO

Summary
Natalie Francis becomes CEO of Massive Entertainment on October 1, correcting earlier reports naming her managing director.
Her track record spans EA DICE, Avalanche Studios, and Spotify, adding subscription-platform operating experience to the studio for the first time.
She inherits The Division 2 live content and The Division 3 development running concurrently.
The studio cut headcount twice in four months before her arrival.
"Massive Entertainment has an extraordinary history, built by incredibly talented people and a culture that cares deeply about craft and quality"
— Natalie Francis, CEO, Massive Entertainment
01

Francis brings subscription-platform experience Massive never had

Initial September 24 coverage described Francis as incoming managing director; Massive later confirmed the role as CEO.
Her prior stops include EA DICE, Avalanche Studios' Just Cause team, and Spotify.
The Spotify tenure gives Massive a leader who ran a subscription platform at consumer scale.
No prior Massive chief executive carried that background.
02

Francis owns execution while creative strategy sits at network level

Massive simultaneously ships new content for The Division 2 and builds The Division 3.
Thomas Andren, promoted to general manager of Ubisoft's Creative Network, retains creative strategy.
Francis owns day-to-day execution under Christoph Hartmann's Creative House 2.
"Her track record of delivering ambitious player experiences while connecting long-term strategy with operational excellence provides a strong foundation for the studio"
— Christoph Hartmann, General Manager, Creative House 2
03

Massive cut staff twice before the appointment

Ubisoft ran a voluntary buyout at Massive in October 2025.
It then proposed 55 redundancies at Massive and Ubisoft Stockholm in January 2026.
Sister studios in San Francisco, Winnipeg, Belgrade, and Barcelona absorbed separate layoffs across the year.

What this means

For Publishers & Developers: Ubisoft is betting operational leadership stabilizes a shrinking flagship studio.
For Investors & VC: The Division live service becomes Massive's core revenue engine.
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