Debbie Bestwick, an experienced gaming executive, has decided to step down as CEO of Team17. But first she will find herself a suitable successor.
According to the March 28 announcement, Team17 will consider both external and internal candidates in its search for a new CEO. Bestwick will play a key part in finding the right person to replace her.
“This has probably been the hardest decision I’ve made, but I wouldn’t have made it if I wasn’t confident in the succession plans and the leadership team’s ability to deliver the clear and focused strategy regarding our collective goals and ambitions,” Bestwick commented. “Ultimately, I want to spend more time with my children who have made sacrifices many times during my career and specifically to spend more time with my youngest before he goes to university.”
Once a suitable successor is found, Bestwick will take on a new non-executive role on the company’s board of directors.
Following the announcement, Team17 shares fell 10% to 400 pence per share. The company also reported preliminary financial results for 2022: its revenue reached £137.4 million (up 52% year-over-year), but profit before taxes fell 1% to £28.7 million.
Debbie Bestwick was one of the founding members of Team17 and has been with the company since its inception in 1990. In 2010, she became the CEO and helped the publisher go public in 2018 at a £230 million valuation.
Bestwick is one of the most recognized executives in the games industry. Consulting firm Games One included her in the top 10 highest-paid gaming CEOs of 2021, with an annual pay of $10.2 million.