Video Games

Thunderful CEO Steps Down Following Publisher’s $2m Loss

Thunderful CEO Brjann Sigurgeirsson has resigned following the company’s $2.1 million loss.

according to The CEO, who has held the position since the group first formed in 2019, is stepping down to take on a new role in the company’s gaming division.

Meanwhile, former CFO Anders Maiqvist will take over until a new full-time CEO is found.

The original Thunderful was founded by Sigurgeirsson, Bergsala Holding and Klaus Lyngeled in 2017 before merging with Bergsala to form the Thunderful Group in 2019.

The company is known for its SteamWorld franchise, developed by its subsidiary Image & Form, which includes SteamWorld Dig, its sequel, and SteamWorld Heist.

But Sigurgeirsson’s decision to pull back comes after a turbulent period at Thunderful, which posted a net loss of $2.1 million in the second quarter of 2022 and a 62.1% decline in operating profit.

Sigurgeirsson attributes the loss to a “significant currency impact” and other issues facing the company’s distribution business. However, the company also posted a $985,508 impairment following disappointing sales of The Gunk, the studio’s most recent release, which failed to gain the same momentum as SteamWorld.

IGN’s own review gave it a 7/10 rating. The small twists each new area adds to its rather simple mechanics don’t drastically shake that formula of vacuuming a landscape and then moving on to the next, but they do have an engaging story and beautiful style. The cleanup process is consistently entertaining, due to the flair of the relatively short campaign. ”

All IGN SteamWorld Reviews

Despite the overall loss, Thunderful claims it had a strong quarter for its gaming division.

“Today, we have about 450 colleagues working on a number of promising projects and an exciting time ahead of us,” Sigurgeirsson said in a statement. “So it’s time for me to step down as CEO of Thunderful Group and have a new force lead the group as it enters its next phase.”

“I look forward to continuing my new role in the Games department and getting back to focusing on game development,” he added.

What’s next for Thunderful? Check out the upcoming SteamWorld Headhunter and everything announced at last year’s Thunderful World.

Ryan Leston is IGN’s entertainment journalist and film can follow him twitter.

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