Douglas Morin Steps Down as Devolver Digital CEO

Douglas Morin has relinquished his position as CEO of Devolver Digital after a tenure of over two years. Morin first joined the company in 2020 as Chief of Staff and played an instrumental role in Devolver's initial public offering in November 2021. He will be succeeded by co-founder Harry Miller, who previously held the CEO position and has been serving as executive chairman. Miller has an extensive background in the industry, having led companies such as Ritual Entertainment, Gathering of Developers, Gamecock Media, and En-Tranz Entertainment. Following the change in leadership, Kate Marsh has been appointed non-executive chair, a role that follows her tenure as senior independent director since Devolver's IPO. Additionally, Graeme Struthers, Devolver's COO and co-founder, has joined the company's board. In a statement, Miller expressed his gratitude to Morin for his dedication and achievements during his time at Devolver, highlighting his crucial role in the company's IPO and infrastructure development. Miller also expressed enthusiasm for his new role, citing the company's promising pipeline and long-term growth strategy. The leadership transition comes on the heels of Devolver's latest financial results, which were in line with expectations. Miller noted that the company is poised for growth in 2024, with a robust release schedule featuring titles such as Pepper Grinder, The Plucky Squire, Anger Foot, and NEVA. The acquisition of System Era is also expected to contribute to the company's expansion into the area of expandable games, with performance thus far meeting expectations. As a result, Devolver anticipates a return to growth in Normalised Adjusted EBITDA in 2024, with further acceleration expected in 2025.