Senior vice president and chief financial officer, Kim Jabal (pictured), is departing engine maker Unity in a few months.
The firm revealed the news in an 8K filing with the United States Securities and Exchanges Commission, saying that she would be leaving the company on May 14th of this year. Until that time, she will be continuing in an advisory capacity, something she will receive $293,125 in compensation, aka half her annual base salary for a year, as well as 100 per cent of her target bonus for six months in 2021.
This follows the news earlier in March that Unity had hired Luis Felipe Visoso as SVP and CFO.
This change in chief financial officers comes at an interesting time for the engine specialist; Unity went public in September 2020 with an $18bn market cap. On the first day of trading, Unity stock was worth $75, hitting a high of $164.92 in December, before it started to decrease in value in February when the company missed its financial guidance for the three months ending December 2020.
In an interview in February, Jabal said that Unity's real competition came from companies still making their own game engines rather than its big rival in the space, Epic.
"We’re glad to have competition," she said.
"But our real competition is actually businesses that still have their own home-grown tech. They’re building and maintaining their own technology. You saw our market share of the top 1,000 games. We have 71 per cent. The next chunk of market share is China. Epic has a very small percentage of mobile. In other areas, like console and PC, we have very large market share there as well.
"They have a big name because of Fortnite, and they’re a great business. We respect what they do. They do compete. They’re going after automotive and film. We see them in those areas. But I personally like our positioning in that our sole mission in life is to make creators and developers more successful."
