Levoranta, who has led Rovio since 2016, took it public markets with a 2017 listing. While this was an initial success, only five months later Rovio issued a suprise profit warning, angering investors and halving its share price in one day. “The company’s result and cash flow development are on a good level and its balance sheet is strong,” Rovio’s chairman Kim Ignatius said in a statement, thanking Levoranta for her work.
Although after the profit warning, Levoranta said Rovio was sticking to a long-term 30% operating margin, this has been between 6.3% and 11.2% in the past three years.
Rovio shares rose 1.2% after news of Levoranta’s departure.
“The board of directors will begin the search process for a new CEO,” the Finnish firm said.