Tero Virtala to Step Down
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News/Tero Virtala to Step Down
Tero Virtala to Step Down
Tero Virtala has stepped down as CEO of Remedy Entertainment, ending a nine-year tenure at the helm of the Finnish game studio behind titles like Control and Alan Wake. The leadership change takes effect immediately, though Virtala will remain with the company for a limited time to support the transition.
Markus Mäki, Remedy’s co-founder and current chief product officer, has been appointed interim CEO. Mäki, who has served on the company’s board of directors since 1995 and is also its outgoing chairman, assumes the role as of today, October 22.
As Mäki steps into executive leadership, fellow board member Henri Österlund will take over as chairman of the board. Österlund has been with the board since 2017.
In a statement addressing the leadership shift, Mäki acknowledged Virtala’s impact on the company.
"I want to thank Tero Virtala for his substantial contribution to the management of Remedy since 2016," he said. "I personally thank Tero for good cooperation and wish him all the best for the future."
The leadership change comes just days after Remedy revised its financial outlook for 2025. The studio cited underwhelming performance from its latest release, FBC Firebreak, its first foray into multiplayer gaming. Remedy reported a €14.9 million non-cash impairment related to the game, encompassing development, publishing, and distribution costs.
More:More Than a Quarter of Game Devs in Europe Were Laid Off
Tero Virtala to Step Down
Tero Virtala has stepped down as CEO of Remedy Entertainment, ending a nine-year tenure at the helm of the Finnish game studio behind titles like Control and Alan Wake. The leadership change takes effect immediately, though Virtala will remain with the company for a limited time to support the transition.
Markus Mäki, Remedy’s co-founder and current chief product officer, has been appointed interim CEO. Mäki, who has served on the company’s board of directors since 1995 and is also its outgoing chairman, assumes the role as of today, October 22.
As Mäki steps into executive leadership, fellow board member Henri Österlund will take over as chairman of the board. Österlund has been with the board since 2017.
In a statement addressing the leadership shift, Mäki acknowledged Virtala’s impact on the company.
"I want to thank Tero Virtala for his substantial contribution to the management of Remedy since 2016," he said. "I personally thank Tero for good cooperation and wish him all the best for the future."
The leadership change comes just days after Remedy revised its financial outlook for 2025. The studio cited underwhelming performance from its latest release, FBC Firebreak, its first foray into multiplayer gaming. Remedy reported a €14.9 million non-cash impairment related to the game, encompassing development, publishing, and distribution costs.
More:More Than a Quarter of Game Devs in Europe Were Laid Off
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