Devolver CEO Douglas Morin has resigned from his position after serving for more than two years. Morin initially joined Devolver in 2020 as Chief of Staff and played a crucial role in the company’s public listing in November 2021.
Stepping into his shoes is Harry Miller, the co-founder of Devolver and former executive chairman. Miller, who was involved in establishing the company in 2009 alongside Rick Stults, Graeme Struthers, Nigel Lowrie, and Mike Wilson, has previously served as the CEO.
Miller has an extensive background, having led Ritual Entertainment, Gathering of Developers, Gamecock Media, and En-Tranz Entertainment in his previous roles. Alongside the change in the CEO position, Kate Marsh has been appointed as the non-executive chair.
Marsh, who served as the senior independent director since Devolver’s IPO, takes on this new responsibility. Additionally, Graeme Struther, the COO and co-founder of Devolver, has joined the company’s board.
Expressing gratitude, Miller stated in a released statement, “On behalf of the Board and everyone at Devolver, I would like to thank Douglas for his significant commitment and achievements at Devolver in the last four years. Douglas’ energy, leadership, and determination were critical to our IPO and program to build our infrastructure as a listed company, culminating in the exciting System Era acquisition.”
Commenting on the future plans, Miller mentioned, “I am excited by the opportunity to step back into the CEO role. It’s an incredible pleasure and honor to continue to work with Devolver’s fantastic and talented team, building out a strong pipeline of fun and creativity and, of course, delivering on our long-term growth strategy.”
This development comes in the wake of Devolver’s latest financial results, which the team states were in line with expectations. Miller provided a trading update, stating, “After a quiet year in 2023 for major title releases, we enter 2024 with a release schedule featuring wonderful titles such as Pepper Grinder, The Plucky Squire, Anger Foot, and NEVA, with releases more evenly balanced throughout the year.
In addition, we will enjoy a full year of contribution from the recently acquired System Era, which takes us into the exciting area of expandable games and has performed in line with expectations since acquisition.”
Looking ahead, Miller expressed optimism about the company’s strategy, anticipating the return to growth in Normalized Adjusted EBITDA in 2024, with further acceleration in 2025.
