Tero Virtala has resigned as CEO of Remedy, effective immediately.
power plant, who was appointed CEO in 2016will continue to work for the developer for an “agreed transition period” until the process of appointing a new manager begins.
Remedy co-founder and chief product officer Markus Mäki will take on the role of interim CEO starting today (October 22).
Mäki has been on the developer's board of directors since 1995 and is also its chairman.
Since Mäki will become interim CEO, Henri Österlund will take over Mäki's former position as Chairman of the Board. Osterlund has been a member of the board of directors since 2017.
“I would like to thank Tero Virtala for his significant contributions to the management of Remedy since 2016,” said Mäki. “I personally thank Tero for his good cooperation and wish him all the best for the future.”
Last week Remedy announced it will adjust its financial forecast for 2025. after “weak sales” of its first multiplayer game, FBC Firebreak.
It recognized a non-cash impairment of €14.9 million representing the game's development costs and publishing and distribution rights.
Remedy previously forecast that revenue and operating profit would increase compared to the previous year. The company now forecasts a decline in operating profit as Firebreak failed to meet “internal targets.”
