Crytek announced today via press release that the company has been fortified by an investment in Autumn 2017 that secured the necessary capital for the growth.
At the same time, founder Cevat Yerli will step down from his CEO and President role to become a 'Strategic Shareholder'. The leadership will be passed to his brothers, Avni Yerli and Faruk Yerli, who will serve as joint CEOs.
Former CEO and President Cevat Yerli said:
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. 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.
This change comes shortly after Crytek successfully launched Hunt: Showdown, their latest horror-themed PvE/PvP first-person shooter game, on Steam Early Access. According to SteamSpy data, the game already sold over 100K digital copies.
According to the press release, the company will "continue to focus on enhancing its industry-leading proprietary development platform CRYENGINE, as well as ongoing development and publishing for Hunt: Showdown in the Frankfurt studio and Warface in the Kiev studio. Crytek’s Istanbul office will continue to be responsible for operating Warface in Turkey."
About the author: With over two decades of experience in gaming journalism, Alessio Palumbo has led the gaming vertical at Wccftech since August 2015. He started working at a young age for Italian websites like Everyeye.it, Gamestar.it, Nextgame.it, and Multiplayer.it before kickstarting the indie English-language publication Worlds Factory as its founder and Editor in Chief. In the last decade, he has coordinated the overall output of Wccftech's gaming section, managed PR relations, assigned reviews, produced daily news coverage, edited gaming content as needed, and delivered game reviews. Arguably, his trademark content is the long series of exclusive developer interviews that have been cited by Wikipedia and by the biggest news media and gaming publications. His passion for technology also makes him knowledgeable when it comes to gaming hardware and tech. His favorite genres include RPGs, MMORPGs, and action/adventure games.
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