Sections

Crytek's Cevat Yerli steps down

CEO and president abdicates roles to serve as a "strategic shareholder"; Avni and Faruk Yerli appointed as joint CEOs

Cevat Yerli has ended his tenure atop Crytek. The company today announced that its long-time president and CEO has stepped down from those positions, but will continue to serve the developer as a "strategic shareholder".

Yerli co-founded Crytek in 1999 with his brothers Avni and Faruk Yerli. Going forward, Avni and Faruk will oversee the company's operations as joint CEOs.

"With the company in a strong position, now is the ideal time to recognize the existing leadership's excellent achievements over these past two years and formally transition executive leadership to Avni and Faruk," Cevat said in a statement. "I have been honored to serve as CEO of the company I founded with my brothers almost 20 years ago and have seen the team accomplish breakthrough things in that time. I look forward to continue helping Crytek as a major shareholder, and I am very excited to see what tomorrow brings. I have every confidence that the company will continue to shine under the guidance of Avni, Faruk, and the rest of the leadership team."

Just how bright the company has been shining in recent years is a matter of debate. Since 2016, Crytek has closed most of its studios, reportedly struggled to make payroll, laid off staff at its Frankfurt headquarters, been sued for unpaid severance, and dropped its VR First educational initiative.

However, the company said an unspecified investment made last autumn "has fortified Crytek and added the necessary capital for future growth."

If you have jobs news to share or a new hire you want to shout about, please contact us on newhires@gamesindustry.biz

Related stories

PlayFusion partnership brings augmented reality capabilities to CryEngine

Enhanced Reality Engine is industry's "most feature-rich and performant AR technology," says Crytek CEO

By Haydn Taylor

Crytek adopts royalties model as CryEngine 5.5 arrives

Developer will now take a five per cent share of earnings from games built with its technology

By James Batchelor

Latest comments (1)

Boris Piker BO$$ 4 months ago
hows that cryptocurrency going lol
0Sign inorRegisterto rate and reply

Sign in to contribute

Need an account? Register now.