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Devolver Digital CEO Douglas Morin steps down

Devolver CEO Douglas Morin has stepped down after more than two years in the role.

Morin initially joined the company in 2020 as Chief of Staff and was actively involved in Devolver’s public listing in November 2021.

He is being replaced by Harry Miller, who is the co-founder of Devolver, and was already executive chairman. Miller has previously held the CEO role, and helped form the company in 2009 alongside Rick Stults, Graeme Struthers, Nigel Lowrie and Mike Wilson.

Miller’s previous roles included leading Ritual Entertainment, Gathering of Developers, Gamecock Media and En-Tranz Entertainment.

Alongside the CEO change, Kate Marsh has been named non-executive chair. Marsh has been senior independent director since Devolver’s IPO. Meanwhile, Graeme Struther, COO and co-founder of Devolver, has also joined the company board.

“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,” Miller said in a statement.

“Douglas’ energy, leadership and determination were critical to our IPO and programme to build our infrastructure as a listed company, culminating in the exciting System Era acquisition. I am excited by the opportunity to step back into the CEO role. It’s an incredible pleasure and honour 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.”

The news follows Devolver’s latest financial results, which the team says was in-line with expectations.

Miller said in a trading update: “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 recently acquired System Era which takes us into the exciting area of expandable games and has performed in line with expectations since acquisition.As a result of this momentum for our strategy heading into 2024, we expect Normalised Adjusted EBITDA to return to growth in 2024 and accelerate in 2025.”

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