Games

Starbreeze changed CEO and announced a “reconstruction” due to lack of funding

               

The company is in a difficult position after the unsuccessful start of Overkill’s The Walking Dead.

According to an official press release, due to the financial instability of the company, new leadership is needed. Therefore, CEO Bo Anderson resigned.

In this phase, Starbreeze needs a new leadership format. And therefore we decided to ask Michael Nermark to take full responsibility for the implementation of this phase.Michael khyurtstarbreeze chair

During the “reconstruction” the company will continue to work, and its employees will not stop receiving salaries, however Starbreeze temporarily breaks off relations with “with suppliers of services and goods” – perhaps, this also includes refusal of outsourcing.

The company noted that the financial goals for the fourth quarter of 2018 and 2020 will not be fulfilled, and in January 2019 it will face an “expected shortage of funds”.

At the end of November, Starbreeze has already announced that it will revise its expenses due to the failure of The Walking Dead, but will continue to support the game, which is still to be released on consoles – it is scheduled for February 8, 2019.

The company had problems when, after a negative financial report for the third quarter (a fall of 45%), the launch of Overkill’s The Walking Dead on the PC did not attract the expected attention from players. After that, Starbreeze shares have fallenin price by half.

The company hopes to rectify the situation with projects under development, including Payday 3.

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