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Rovio CEO flies the coop

angry birds

With over half a decade leading Rovio's flock, CEO Mikael Hed announced today that he will be stepping down as the company's head man starting January 1st of next year. The co-founder will hand over the keys to the Angry Birds developer to Pekka Rantala, who is currently serving as the company's Chief Commercial Officer, a position he took in June of this year.

Rovio's profits have taken a bit of a dive recently, as companies like King (Candy Crush Saga) and Supercell (Clash of Clans) have overtaken the throne that Angry Birds once easily claimed. In fact, 2013's profits were less than half of what they were in 2012 for Rovio, as the company's key franchise has failed to translate -- in a profitable way -- to new genres like racing and role-playing.

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