The head of Rovio's gaming division has resigned following a drop in the company's shares
The head of the gaming division and executive vice president of Rovio Wilhelm Taht (Wilhelm Taht) left the post without explanation. His departure was preceded by a record drop in the company’s shares, which was announced a week earlier.
Wilhelm Takht did not comment on the reasons for his departure, only stated that it was “time for him to move on.” Rovio explained his resignation for personal reasons.
The position of Takht will be temporarily occupied by Rovio CEO Kati Levoranta (Kati Levoranta).
On February 23, Rovio shares fell from €10 to a historic low of €4.3.
Rovio stock exchange on Helsinki Stock Exchange
The company attributed the fall in shares to a 40% decrease in revenue from licensing the Angry Birds brand.
This is mainly due to a decrease in revenue from the animated film Angry Birds, which was released in 2016.
Due to the deterioration of the stock price, Rovio issued a warning about the deterioration of the forecast of expected profits.
The sales forecast for 2018 was estimated at between €260 and €300 million, while sales last year amounted to €297 million.
Despite this, the company hopes for growth in the long term.
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