Remedy CEO Steps Down After 9 Years Following FBC: Firebreak’s Financial Disaster
In a sudden leadership shakeup, Remedy Entertainment Plc has announced that Tero Virtala is stepping down as CEO, marking the end of his nine-year tenure at the Finnish game studio. The decision, described as mutual between Virtala and the company’s Board of Directors, follows the commercial and financial failure of FBC: Firebreak, which significantly impacted Remedy’s 2025 performance and investor confidence.
According to the official press release, Virtala will depart from the CEO position effective immediately, though he will remain with the company during a transition period to assist with the handover of leadership duties. Remedy’s Board has appointed Markus Mäki, one of the company’s founders, as interim CEO, effective October 22, 2025.
Mäki has been part of Remedy since its inception in 1995, serving as a long-standing Board member and previously as Chairman. Following his appointment, he has stepped down from his role as Chairman but will remain on the Board as an ordinary member. Henri Österlund, who has served on Remedy’s Board since 2017, has been elected as the new Chairman of the Board.
“I want to thank Tero Virtala for his substantial contribution to the management of Remedy since 2016,” said interim CEO Markus Mäki. “I personally thank Tero for good cooperation and wish him all the best for the future.”
Virtala’s departure comes in the wake of FBC: Firebreak, Remedy’s ambitious spin-off set in the Control universe, which reportedly suffered from low sales and mounting development costs. Despite critical interest at launch, the game struggled to attract players and underperformed commercially, forcing Remedy to issue profit warnings earlier this quarter.
Insiders describe FBC: Firebreak as a turning point for Remedy’s financial outlook, with its failure leading to delays and budget revisions for ongoing projects, including the next Control and Alan Wake titles. Investors reacted sharply, and Remedy’s stock fell by double digits in recent weeks, increasing pressure on leadership to restructure operations and restore confidence.
Markus Mäki’s appointment as interim CEO marks a return to leadership for one of Remedy’s original architects. Mäki co-founded the studio behind some of the most iconic narrative-driven games in the industry, including Max Payne, Alan Wake, and Control. His familiarity with the company’s culture and long-term strategy may help stabilize the situation as the Board searches for a permanent replacement.
The company confirmed that the search for a new CEO will begin immediately, aiming to bring in a leader capable of steering Remedy through a challenging post-Firebreak recovery phase while maintaining its creative direction and independence.
Founded in 1995, Remedy Entertainment remains one of Finland’s most recognized game developers, known for its storytelling excellence and distinctive cinematic style. The studio is now entering a crucial period as it seeks to balance financial recovery with the ongoing development of several high-profile projects.
Do you think Remedy can regain its footing after the FBC: Firebreak setback, or has the studio overextended its ambitions? Share your thoughts below.
