Melvyn Morris, chairman of King Digital that makes the popular mobile game Candy Crush Saga, has resigned from the firm with immediate effect due to "personal reasons".
Gerhard Florin, who has served as a member of the board of directors since September 2010 and is currently chairperson of the company's compensation committee, will replace Morris, the company said in a statement.
Melvyn Morris is he second-largest shareholder at King Digital.
Meanwhile, Gerhard Florin was an obvious choice for the gaming company as he has spent more than 20 years in the entertainment and gaming industry with Electronic Arts and BMG, in both executive and supervisory roles, King noted.
Speaking about Morris, CEO Riccardo Zacconi said: "His belief, energy, experience and insight have helped make King a successful global business with hundreds of millions of players."
"Gerhard has played an important role during his tenure as a King board member, helping the company to grow into one of the most successful mobile gaming companies."
The resignation of Melvyn Moris comes at a time, when the company reported disappointing results for the third quarter. King reported a 20% decline in quarterly revenues at $514.4m (£326.8m, €412m).
Revenue from Candy Crush Saga, which has been one of the most downloaded games in the UK, declined.
King emerged as a major gaming company with hit games such as Candy Crush Saga, Farm Heroes Saga, Papa Pear Saga, Pet Rescue Saga and Bubble Witch Saga. It has more than 190 titles in over 200 countries.
Owing to its huge success, the company went public in March with a listing in New York.
But since the company failed to maintain its growth, shares of the firm declined by 17% this year.
King shares closed 0.81% lower on 26 November at $15.82 on the New York Stock Exchange.