Angry Birds maker Rovio Oyj down after games head quits, shares plummet

CEO Kati Levoranta, who led Rovio through an initial public offering in September, said management is "not satisfied with the current performance

The maker of the Angry Birds game, Rovio Oyj, plunged on Friday after the Finnish company said its head of games was leaving “with immediate effect” and reported full fourth-quarter numbers that failed to appease angry investors.

The shares sank 14 per cent at one point on Friday, and traded about 11 per cent lower as of 3:06 p.m. in Helsinki. The selloff comes just over a week after Rovio lost half its market value after disappointing shareholders with its preliminary results and outlook.

CEO Kati Levoranta, who led Rovio through an initial public offering in September, said management is “not satisfied