Remedy CEO Steps Down After 10 Years
Remedy Entertainment, one of the world’s most established gaming studios, is facing a significant management change. Tero Virtala, who has served as CEO since 2016, has abruptly stepped down. The decision reportedly follows the recent failure of FBC: Firebreak, which failed to achieve expected sales. According to Remedy, the search for a new CEO has begun immediately.
Change Begins at Remedy
Remedy’s official announcement stated that Tero Virtala and the board of directors have parted ways “by mutual consent.” Virtala will continue to support the company during the transition. Co-founder Markus Mäki will take over as CEO on an interim basis. Mäki has been on the board since 1995 and is part of the core team responsible for the company’s production processes.
The statement announced that Mäki has stepped down as chairman of the board and taken over as interim CEO, with Henri Österlund taking over as chairman. Mäki made the following statement regarding Virtala:
“I would like to thank Tero Virtala, who has made significant contributions to Remedy’s development since 2016. It was a great pleasure working with him, and I wish him the best in his future career.”
Virtala’s departure is also linked to the company’s fluctuating performance in recent years. The failure of FBC: Firebreak to meet sales targets, in particular, led to a loss of investor confidence in Remedy. Despite the success of Alan Wake 2, the company has failed to achieve the commercial momentum it desired.
Remedy is currently working in partnership with Rockstar Games on the Max Payne 1 & 2 Remake project. Furthermore, a new update for the Control Ultimate Edition has added series-exclusive missions and outfits, as well as PlayStation 5 Pro support. With Virtala’s departure, all eyes are on Remedy’s strategy for the upcoming season. The company is expected to announce its new CEO and share its vision for the future in the coming weeks.
