CARY – There’s a new executive at the helm of Red Storm Entertainment, the gaming studio based in Cary that is owned by Ubisoft.
Elizabeth Loverso has been appointed to managing director, as co-founder and now former managing director Steve Reid will retire after more than two decades at the helm of the organization.
“I am excited to continue the legacy we have created here under Steve’s tutelage with the talented development teams,” said Loverso, who was most recently the vice president of product development at Red Storm Entertainment, in a statement. “I’m looking forward to building on our success to ensure Red Storm’s teams continue to operate in a healthy and inclusive environment where everyone can achieve their full potential.”
Steve Reid.
Reid was among the founding members of Red Storm Entertainment in 1996, alongside novelist Tom Clancy and 17 game developers. Red Storm now has 185 employees with 142 based in the Triangle, according to a company spokesperson.
Ubisoft acquired the company in 2000 in a deal announced in 1999 following a strong sales performance of the gaming firm’s release of the tactical shooter game Tom Clancy’s Rainbow Six, WRAL TechWire reported previously.
Loverso was raised in High Point, and attended Appalachian State University in Boone. She has lived in Raleigh for 27 years, and joined Red Storm in 1999, according to a LinkedIn profile, and filled multiple roles as the company continued to release award-winning game brands.
According to the company’s statement, Loverso oversaw the development of a number of the company’s gaming brands and collaborated to release additional games released by Ubisoft, as well as the company’s television series “Mythic Quest.”
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Stepping away at the end of the year
Reid has served as managing director for 21 years, according to the company’s statement, and though the transition in leadership has already occurred, the company noted Reid will remain a part-time consultant for the remainder of the year.
“Red Storm is exactly what I hoped it would become, something that would last. Something that each of us could all be proud of in both creativity and culture,” said Reid in a statement. “I thank all my co-founders for the boldness to create a startup, and Yves Guillemot for the backing and the partnership to turn games into long-lasting brands.”
Loverso will now be tasked with bringing the company’s strategic vision “to life,” according to the statement, and will continue temporarily to provide production direction at Red Storm, until a replacement is hired to fill her previous role.
In 2021, two Triangle cities appeared ranked in the top 20 cities for gaming. Red Storm’s parent company Ubisoft parted ways with the company’s creative director and two other executives in 2020 following demonstrated “toxic” behavior.
Red Storm Entertainment parent Ubisoft shakes up leadership after ‘toxic’ behavior
