Boss behind Games Workshop's Warhammer boom revealed

Games Workshop, the maker of Warhammer miniatures, has become a £5 billion blue-chip company under chief executive Kevin Rountree, a publicity-averse leader who joined the business in 1998 and took the helm roughly a decade ago.

Rountree appeared at the company's Nottingham headquarters for the annual meeting, blending in with staff and shareholders and greeting enthusiasts who make up much of the investor base. He is known for avoiding the limelight, preferring to let the company's results do the talking and staying off social media. After the formal proceedings, he and other board members spoke with attendees for more than an hour and were later seen walking with a member of the design team toward Warhammer World, the firm's visitor center.

In the latest full-year figures, Games Workshop posted profits of £263 million, up from £203 million the previous year, with sales rising almost 20% to £618 million. Staff shared a £20 million bonus, averaging about £6,000 per employee, while Rountree received a one-off £2.2 million windfall for his decade at the helm. The award is payable in shares in three years if he remains in post and meets targets. In the annual report, Rountree noted that the new long-term incentive policy is a big change and it remains to be seen whether it improves the company's performance.

The company is leveraging strong demand for Warhammer as it expands internationally, with 134 UK stores and a plan to open 35 outlets by next summer in growth markets, including its first in South Korea. Warhammer World, the visitor centre in Nottingham, continues to draw dedicated fans with a combined museum, exhibition, gaming space, shop and cafe-bar. An Amazon Prime TV series in development, starring British-born actor Henry Cavill, could further boost the brand's visibility and global footprint.

Rountree's approach stands in contrast to the trend among many FTSE 100 peers toward online-only annual meetings. The Mail on Sunday has campaigned for in-person shareholder meetings and easier voting through platforms or nominees, arguing the move undercuts shareholder democracy. Games Workshop's openness at its AGM is cited by supporters as a counterexample, highlighting a more accessible, in-person format for investors.

The Warhammer boom traces to a broad revival of tabletop gaming during the pandemic, catapulting Warhammer's profile beyond hobbyists to mainstream audiences. The company's emphasis on community spaces, such as Warhammer World, and a growing repertoire of licensed media, including the TV project, have helped sustain momentum as it pursues new markets and store openings.