After nine years as CEO of the studio behind Control and Alan Wake, Tero Virtala has departed the role. Remedy cofounder Markus Mäki is taking over on an interim basis (and stepping down as chairman of the board) while the company looks for a permanent CEO. Henri Österlund, a board member since 2017, is Remedy’s new chairman.
“I want to thank Tero Virtala for his substantial contribution to the management of Remedy since 2016,” Mäki said in a statement. “I personally thank Tero for good cooperation and wish him all the best for the future.” Virtala will remain at Remedy for a transition period to help with the handover of CEO duties.
Remedy didn’t spell out the reasons as to why Virtala is leaving as CEO, but said it was by mutual consent. However, it’s been a rough year for Remedy after its latest game, FBC: Firebreak, failed to meet sales expectations. Earlier this month, the company issued a profit warning to investors and lowered “its long-term sales forecast for the game.” Remedy now expects its operating profit for the year to be in the red after recognizing a “non-cash impairment” of €14.9 million ($17.3 million) related to FBC: Firebreak development costs as well as publishing and distribution rights.
FBC: Firebreak (a co-op Control spinoff) arrived in June and while the game reached half a million players in its first 10 days, most were on consoles, where it was available via PlayStation Plus and Game Pass Ultimate. Remedy said in August the game had underperformed on Steam, which the company had intended as its “primary consumer sales channel on PC.”
After feedback from players, Remedy swiftly rolled out multiple patches for FBC: Firebreak — its first multiplayer title — to try to improve the game. It released the first major update for FBC: Firebreak last month to revamp the core gameplay and overhaul the onboarding experience. However, that didn’t fully turn the tide. “Despite improved player and sales metrics after the update, sales have not reached Remedy’s internal targets,” the company said in its profit warning.
Another major FBC: Firebreak update is planned for November, which will add a new game mode as well as cross-platform voice chat. Remedy also has Control 2 in the oven, as well as remakes of the first two Max Payne games.
