There is no doubt that Cyberpunk 2077 had a disastrous launch. However, this launch has received an unprecedented amount of backlash among gamers. CD Projekt Red's CEO Adam Kicinski has been called to resign by a CEO from another company.
Those who clicked and thought this was just a high-level investor have been rewarded because I cannot think of a higher investor than an entire firm. For the CEO, the point of no return was when Cyberpunk 2077 was removed from the PlayStation Store. It will come as a surprise to those who have forgotten, and even PlayStation refused to keep the game on its digital store until CD Projekt Red made Cyberpunk 2077 better.
Investment firm calls for CD Projekt Red calls for its CEO to resign
One of CD Projekt Red's investors is demanding that CD Projekt Red replace its executive-level leaders over the removal of Cyberpunk 2077 from the PlayStation Store. Investor Abri Advisors is a U.K.-based investment company. Bloomberg spoke with them about their complaints.
Jeffrey Tirman, CEO of Abri Advisors, said he doesn't believe a company could make as many mistakes as CD Projekt Red with Cyberpunk 2077, even if it tried. With Cyberpunk 2077's issues, CD Projekt Red's reputation has been impacted significantly, and many are claiming the company will have to do exceptionally well with its next title if it wants to regain some of its lost goodwill.
If Adam Kicinski and co-founder Marcin Iwinski are not immediately removed from the board, Tirman said the company will solicit other CD Projekt Red stockholders to get the entire board removed. For his argument, Tirman points to the 57% drop in CD Projekt Red stock since the launch of Cyberpunk 2077. This was followed by CD Projekt Red's first-quarter profits being 62% less than analysts' estimates.
A case for removing Kicinski and Iwinski, or any supervisory board for that matter, is certainly not a simple one. To do this, the company would have to receive a three-fifths majority vote from all of its shareholders, which leaves a small margin when Kicinski and Iwinski, along with Michal Kicinski, hold 34% collectively.
However, it's not impossible because there is a lot of support for removing the executive staff after every accusation that Cyberpunk 2077 was released in an improper state.