Rovio announced CEO Kati Levoranta will part ways with the company at the end of 2020, a move which follows the game maker recording a revenue decline in the first half of the year.
In a statement, the company noted its board of directors will start searching for a new head to succeed Levoranta after her departure.
Rovio’s chairman Kim Ignatius noted Levoranta had been “in a key position in many areas of Rovio’s development”, including carrying out strategic and operative “work to sharpen its business focus, develop the game business and cherish the Angry Birds brand”, and conducting an initial public offering [1] in 2017.
Despite marking a 4.8 per cent drop in group revenue year-on-year in the first half of the year, Ignatius noted Rovio’s “result and cash flow development are on a good level and its balance sheet is strong”.
Levoranta described her experience in the company as “extremely inspiring and rewarding”, and pledged to continue working closely with Rovio’s employees until the end of her tenure.
She took the reins of the company in 2016.
[1] https://www.mobileworldlive.com/apps/news-apps/rovio-launches-ipo-touts-consolidation
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