Investors of the Polish company – the developer of computer games CD Projekt Red demanded to dismiss its executives after the disastrous release of Cyberpunk 2077. They expressed distrust to the general director of the studio Adam Kichinski and his deputy Marcin Iwinski. It will be quite difficult to comply with the shareholders' demand, since the dismissal of members of the supervisory board requires a majority of votes.
To send top managers of CD Projekt Red to resign was proposed by the British company Abri Advisors, which wrote a letter to the studio's board of directors, Bloomberg reported. In it, investors on behalf of all shareholders expressed “extreme alarm and distrust in connection with the events in the company that have occurred over the past 12 months.”
Abri Advisors chief executive Jeffrey Tyrman said he will ask other shareholders for a supervisory board reshuffle unless Kichinski and Iwinski are fired immediately. What share of the company belongs to the British firm is unknown.
The press service of the game studio said they knew about the letter and would consult with the chairman of the supervisory board Katarzyna Schwartz. CD Projekt Red noted that none of the issues that were raised in the circulation were raised at the shareholders' meeting on May 25, 2021. Abri Advisors did not register for the event. Tyrman said the firm did not attend the meeting because it hoped the board would take action.
The agency notes that the removal of top managers is a rather difficult task, since this will require the votes of 60% of shareholders. At the same time, the current heads of the studio and the brother of the general director, Michal Kicinski, own at least 34% of CD Projekt Red, so their opinion plays an important role in the formation of the composition of the supervisory board. According to Bloomberg, the studio's largest investor is the Polish pension fund NN Group NV. At the end of 2020, he owned 4.2% of the company's shares.
Cyberpunk 2077 was to be one of the most challenging RPGs in history. The famous actor Keanu Reeves took part in the shooting and advertising campaign, the founder of Tesla and SpaceX Elon Musk wrote about the game on Twitter. Due to the increased complexity, the release of Cyberpunk 2077 was delayed three times.
After it premiered in December 2020, it was revealed that the game was still bugged, which forced Sony to remove Cyberpunk 2077 from the PlayStation store and offer customers a refund. Since the release, CD Projekt Red's shares have plummeted 57%, causing the company to lose $ 6.2 billion.
In total, the Polish studio returned over $ 2 million to gamers. In total, the company managed to sell 13.7 million copies of Cyberpunk 2077, about 30,000 people requested a refund.
Photo: facebook.com/CyberpunkGameRU
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