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.”
I understand their strategy, I just don’t like it as a console player. I also don’t think it is a very good one from business perspective. For me it seems like they failed in the console (hardware) market, so they pivoted to the cross-platform software focus.
I know like/dislike is subjective, so I understand if others have different opinion. And business-wise, these strategic decisions will show their true impact over many years, so there would be no point in comparing current numbers, let’s see if what they plan pays off in the future.
I have a PS5 and a Series S, so I’m not partial to either of them, just to consoles as a hardware platform. I don’t like this Windows-ification of Xbox, as I moved from PC gaming to consoles around 2 decades ago, and I like my choice. I also switched to iPhone from Android, and happy to have lost all the headaches that came from the more open platform.
Again, these are personal preferences. Maybe I’m the “old” man (gen Y) screaming angrily at the clouds, or maybe the Microsoft MBAs are wrong. Manufacturers are going back on large touchscreens in cars, which was also celebrated as the FUTURE^TM^ years ago, yet it’s just cost saving that sacrifices the safety of the driver.
Very disappointing, with arguably misleading marketing and videos.
I was so hyped watching the reveal, then only realized from comments that this only plays Windows compatible Xbox games. I was hoping for a true Xbox handheld, where I can play all Xbox games natively.
If somebody is already deep into handhelds, this might be obvious to them, but I think many buyers will be disappointed when they realize this.
I saw a 10 min video of MS and ASUS team explaining the device, and they intentionally dance around the issue, diluting the original meaning of words like “Xbox”, which is a video game console. Not a PC, not a launcher in Windows, and not a meaningless branding for MS published games.
There is a reason Nintendo and Sony is killing it in their focus segments: they make a console and sell video games you can play on it. Sony might release PS games on PC for extra revenue, while MS is trying to do that as a main focus, because they didn’t sell enough consoles. MS really shit the bed with Xbox this gen (again). Gamepass is not going to save them, they were first to the market, but Sony is also selling subscription, but in addition (and not instead) of console sales.
Such an amazing game. I’m not into RPGs but somehow got convinced to play this.
I don’t understand how I even had the energy to play 100+ hrs next to work. I often played until 2 am on weekdays, or woke up earlier to play.
I understand the complaints of the gameplay or controls, but the story and the characters are what makes this game special. It’s a journey I will never forget, some memories and feelings from it will stay with me forever
They also closed Monolith, a great studio behind e.g. FEAR amd Shadow of Mordor games. They are making all the wrong decisions, and then will wonder why they have lost to competitors.