Zynga founder steps down

Posted by: Jennifer Cefai (3 years, 5 months ago)

Source: engadget.com

Another one bites the dust at Zynga, and this time it's its own founder. Along with its quarter earnings report, the company announced on Wednesday that founder and former CEO Mark Pincus would be stepping down from his cheif product officer role to take on the chairman role. "Going forward, with Mark in his role as Chairman of the board, we will continue to be close partners and work together to achieve our winning aspiration to be the at-scale industry leader by delivering more #1 games in more categories than any other competitors," said CEO Don Mattrick, in a statement. On another note, former Micrsoft exec Mattrick was the one who Zynga ousted Pincus out of the CEO position for. 

This follows CFO/Chief Accounting Officer Mark Vranesh's resignation from the company. Zynga also announced a few more top hires, but even these shifts at the company couldn't disguise the reporting of the aforementioned disappointing results of Q1. Zynga has reported a net loss of $61 million. It is also worth noting that the company has lost about half of its users within a year, going from 53 million daily active users in Q1 2013 to 28 million in Q1 2014. Hopefully some new blood at C-level will give the social gaming company the boost it so desperately needs. 

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