Rovio Entertainment Ltd., a global entertainment media company and the maker of "Angry Birds," has announced in a press release that Pekka Rantala will be stepping down as the CEO of the company.
The company will also be shifting more operational responsibility and decision-making into its Games and Media divisions.
Rovio said that Kati Levorata, the company's chief legal officer since 2012, will be assigned as the new CEO of the company.
Rantala will stay with the Rovio until the end of the year to ensure a smooth leadership transition on January 1, 2016.
As part of the leadership change, Mikael Hed, who is the co-founder of Rovio and serves as Chairman of the Rovio Animation Company, will be leading Rovio's media business, including its licensing activities.
Wilhelm Taht, who previously served as Head of Rovio Stars, will be leading the company's games unit.
Kaj Hed, the chairman of Rovio, said in the press release that the company will be going back to its roots.
"As we move into the next phase of the Rovio story, we will be getting back to our entrepreneurial roots with the leaner, more agile organization that Pekka leaves us with," he said.
The Wall Street Journal reports that the shake-up comes as Rovio is facing fierce competition in smartphone games.
The company has shot to the top of the smartphone game industry in 2009 because of its original "Angry Birds" game.
Rovio, though, has struggled to develop another hit game that could bring it as much revenue as the original "Angry Birds."
The company has also taken longer than expected to adapt to the free-to-play model for mobile games.
Rovio was able to generate slightly more revenue in 2015 from its games business, but the revenue from licensing was flat.
The company also announced in August that it would be cutting a third of its workforce to focus on fewer businesses.
Included in the eliminated jobs were several executive positions, including chief brand officer and chief operating officer.
Rovio now has a little more than 500 employees.
