While the Angry Birds series had a good run for years, it's safe to say that the series is finally starting to show its aging spots and isn't as robust as it used to be. Rovio CEO Mikael Hed is reportedly stepping down as Finland-based company's head executive following the plummeting profits of the company's Angry Bird franchise.
TechCrunch has the scoop on what's going on at the Rovio headquarters; Hed is "passing the hoodie" over to Pekka Rantala, who will be taking his spot as the CEO for Rovio and hopefully breathing new life into the company starting January 1st, 2015.
Originally Posted by Mikael Hed
In addition to the software and games that players can download on their devices and machines, Angry Birds paraphernalia has been popping up in stores across the world; small toys in vending machines, stuffed animals on the shelves, and much more.
Despite all of these products, Rovio has not been making the 'big bucks' behind the scenes. TechCrunch notes that between 2012 and 2013, Rovio's profits were slashed by more than half. In 2012, the company made net profits of €55.5 million, while in 2013, that number dropped to only €26.9 million; net profits for 2014 are expected to be even less.
With Rantala taking over for Rovio, the fate of the company is unclear. On the other hand, it's probably safe to say that some big changes are to come.
Sources: TechCrunch, Image via Martti Kainulainen/AFP/Getty Images