The Woman Behind Success of Angry Birds, Quits Later This Year


Rovio chief executive who is a game developer Angry Birds said that he would leave the company at the end of this year.

The NY Post's Gamevos quoted Kati Levoranta, who led the company in 2016 and led the company through its 2017 IPO, on Monday announced that she would be leaving Rovio due to a joint decision, which declined to elaborate.

"We came to this conclusion with mutual consent with the board," Levoranta said in an interview.

Rovio's public listing was initially a success, but the company issued a staggering earnings alert just five months later, angering investors and halving its share price in one day.

The gaming company's shares are currently selling for 50 percent less than their listing price of 11.50 euros.

Levoranta said Rovio maintains a target long-term operating margin of 30 percent as set at the listing, despite margins of between 6.3 percent and 11.2 percent in the past three years.

Levoranta said Rovio recently being a mobile-first gaming company, not a gaming-first entertainment company, was in a good moment to think about changes in the future.

Rovio's shares were up 1.8 percent in trading, to 6.12 euros. Rovio said the board of directors will start the process of finding a new CEO.


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