Remedy chief financial officer Terhi Kauppi is departing the Alan Wake and Control developer.Kauppi will step down on June 30, 2024, and Remedy has already started searching for her successor. Her responsibilities will be shared by the company's finance team until a replacement has been found.In a note to investors, Remedy explained Kauppi is leaving to "pursue new career opportunities outside of the company." She joined Remedy in 2018 and according to CEO Tero Virtala has enabled the studio to scale up."[Kauppi] has had an important role in developing our finance and administrative function to a state where we can manage well the needs of a larger organization. She also successfully led the project to transition Remedy from the First North Growth Market Finland marketplace to the official list of Nasdaq Helsinki," said Virtala."I warmly thank Terhi Kauppi for her valuable contribution and wish all the best for the next phase in her career."
Ups and downs at Remedy
Remedy recently described 2023 as "challenging yet remarkable" year. It ushered in the launch of Alan Wake II, which became the company's fastest-selling title after shifting 1.3 million copies. However, the Finnish studio also struggled to clear a path to market for certain projects.Last year, it chose to reboot free-to-play multiplayer title codenamed 'Kestrel,' incurring €7.2 million in impairment charges while also impacting profitability and revenue. Not long after retooling the project, Remedy decided to throw it on the scrapheap altogether to focus on developing existing franchises.
