Red 5 Studios CEO Mark Kern has been terminated by the company's board of directors, effective immediately. Vice President of Development James Macauly has apparently sent an email to all employees informing them of the change in leadership, with this latest dismissal coming in the wake of several previous layoffs at the Firefall studio. No official statement has been issued to the public by the company at this time.
An anonymous source within the company has also spoken out against Kern in The Escapist, claiming that the CEO was frequently absent and arrived sporadically to hand down arbitrary decisions. How true these statements are cannot be confirmed, although the company does hold a low rating for employee satisfaction overall. We'll have more on the situation if and when a statement is issued regarding Kern's continued employment or lack thereof.
[Update: Red 5 Producer Matt DeWald has issued a formal statement on the now-confirmed rumors: "As of Thursday, December 19th, Mark Kern is no longer the Chief Executive Officer of Red 5 Studios. Mark founded Red 5 Studios in 2006 to provide exceptional game entertainment along with a world-class team of developers working on the MMO Shooter, Firefall. Red 5 Vice President of Development, James Macauley, will be moving into the role of acting CEO. The team at Red 5 continues work on Firefall and looks forward to all that we have to offer in 2014."]