April 11, 2018 / 7:40 AM / 6 months ago

Angry Birds maker Rovio's investor relations chief quits after seven months

HELSINKI (Reuters) - “Angry Birds” maker Rovio, whose share price has nosedived since a sharp profit warning in February, said on Wednesday that its head of communications and investor relations was leaving the company after less than a year in the job.

A Rovio sign and a figure of an Angry Birds character are seen in front of Rovio's headquarters in Espoo, Finland March 2, 2018. REUTERS/Jussi Rosendahl

Rovio said Rauno Heinonen, senior vice president of communications and investor relations and a member of the company’s leadership team, would leave immediately.

He is the second senior executive to leave the Finnish mobile game company in recent months after head of games Wilhelm Taht departed in February.

Heinonen joined the company last September, helping the company to carry out an oversubscribed initial public offering.

Rovio spokeswoman gave no reasons for his departure but said it did not have to do with the company’s recent communications challenges.

Investor sentiment in Rovio has deteriorated this year, with Rovio’s share price plunging 50 percent in February after the company said its sales could fall this year after jumping 55 percent in 2017.

Rovio cited tough competition in the game industry, which also led to high marketing costs. A week after the profit warning, the company said Taht would leave Rovio immediately for personal reasons.

Heinonen was not immediately available for a comment.

Rovio will hold its first annual general meeting on April 16.

Reporting by Jussi Rosendahl; Editing by Susan Fenton

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