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Thread: Rovio CEO Stepping Down Following Recent Profit Plummets

  1. #1
    Default Rovio CEO Stepping Down Following Recent Profit Plummets

    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.

    Quote Originally Posted by Mikael Hed
    It has been an amazing ride and in the coming months I will be very happy to pass the hoodie to Pekka Rantala, who will take Rovio to the next level,” Mikael Hed said in a statement. “Pekka is known to be a great leader with experience building successful global consumer brands. I will continue to play an active role and will support Pekka in any way I can to ensure Rovio’s continued success.
    Rovio has many different variations of its Angry Birds games available in the iOS App Store (and even in similar software stores for other mobile and desktop platforms), including the original Angry Birds, an outer space variation dubbed Angry Birds Space and Angry Birds Star Wars, and even a seasonal version of Angry Birds dubbed Angry Birds Seasons, which gets updates with each holiday. Rovio also recently released an all-new Angry Birds-themed RPG game called Angry Birds Epic. Each of these get regular updates with more levels and additional features.

    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

  2. #2
    "Even less" than 26.9 Euros? How awful, for a one-note company that's milked the bejeezus out of one stupid game. God Bless America.

  3. The Following User Says Thank You to milder For This Useful Post:

    jsuddu0109 (2014-08-29)

  4. #3
    Quote Originally Posted by milder View Post
    "Even less" than 26.9 Euros? How awful, for a one-note company that's milked the bejeezus out of one stupid game. God Bless America.
    lol well said. I think it's still milking around...
    Passionate tech blogger, student in college and part time worker at

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