Funcom Chief Financial Officer Olav Sandnes today announced, alongside news that Funcom suffered a loss of $23.3 million in Q4, that he will resign from the company. This was likely due in part to Age of Conan not meeting expectations, despite high initial interest. The developer, Funcom, has had to lay off employees and close servers as a result.

"Olav Sandnes has made important contributions in Funcom, particularly in respect of developing the Company's financial reporting, controls and management systems and as a member of the management team," commented Trond Aas, CEO of Funcom.

Sandnes had been working with Funcom since 2006. The release by Funcom indicates that he is leaving to take a different position in a company outside of the gaming industry.

"Funcom is a company with a substantial potential based on a unique combination of skill sets in a fast growing global market," comments Sandnes. "I wish Trond Aas and the rest of the organization all the best in realizing the full potential of the company."