Remedy CEO Tero Virtala steps down in mutual agreement with board of directors

Remedy recently warned investors that it will incur a €16 million loss. Now the company's CEO is leaving, and Remedy seeks new leadership as it tackles Max Payne and Control 2.

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FBC Firebreak, the latest game from Remedy, was a bust. The shooter sold so poorly that the company issued a tax write-off for the project, which is essentially an acknowledgement of devaluation of a product. Now, little over a week later, Remedy's CEO Tero Virtala is departing after 9 years of leadership.

Remedy issued a press release announcementconfirming the decision was made in mutual agreement between Tero Virtala and Remedy's board of directors.

Markus Maki, the current chairman of Remedy's board of directors, will take over until a new CEO is appointed. Remedy's current slate of games was not mentioned, nor was the multi-year plan which includes more self-published titles.

Check the full announcement below:

"Tero Virtala, CEO of Remedy Entertainment Plc, and the Board of Directors of the company have mutually agreed that Tero Virtala will step down from his position as the company's CEO with immediate effect. Virtala has acted in the position since August 2016. The company will initiate a search process for a new CEO immediately. Virtala will continue at the service of the company during an agreed transition period to support the handover of CEO duties."

"Remedy's Board of Directors has appointed Markus Mäki as the company's interim CEO, effective as of October 22, 2025. Mäki is one of the founders of the company. He has been a member of the Board since 1995 and acted as the Chairman of the Board until his appointment. In addition, he is a member of the company's core management team responsible for production. Following his appointment, Mäki will step down from his role as the Chairman of the Board and continue as an ordinary member of the Board. The Board has elected Henri Österlund, who has been member of Remedy's Board since 2017, as the new Chairman of the Board.

"I want to thank Tero Virtala for his substantial contribution to the management of Remedy since 2016. I personally thank Tero for good cooperation and wish him all the best for the future," says Remedy's interim CEO Markus Mäki.