Tero Virtala has stepped down as Remedy CEO with immediate effect.
Virtala, who was appointed CEO in 2016, will continue to work for the developer for an “agreed transition period” while it begins the process of appointing a new leader.
Remedy co-founder and chief product officer Markus Mäki will take on the role of interim CEO, effective as of today (October 22).
Mäki has been on the developer’s board of directors since 1995, and is also chairman of the board.
As Mäki becomes interim CEO, Henri Österlund will take over Mäki’s previous role as chairman of the board. Österlund has been a board member since 2017.
“I want to thank Tero Virtala for his substantial contribution to the management of Remedy since 2016,” said Mäki. “I personally thank Tero for good cooperation and wish him all the best for the future.”
Last week, Remedy announced it would be adjusting its financial outlook for 2025 following “weak sales” of its first multiplayer title, FBC Firebreak.
It recognised a non-cash impairment of €14.9 million, representing the game’s development costs alongside publishing and distribution rights.
Remedy previously forecast both its revenue and operating profit would increase from the previous year. It now estimates a decrease in operating profit as Firebreak did not meet “internal targets.”
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