Pincus to step down as Zynga CEO
Founder will remain chairman and chief product officer following arrival of Xbox president Don Mattrick
Zynga chief executive and founder Mark Pincus is to step down from his position next week, the social gaming operator has announced.
He will be replaced by Electronic Arts and Microsoft veteran Don Mattrick, while Pincus will remain chairman of the board and chief product officer. Mattrick will also join Zynga’s board of directors.
Mattrick, 49, has spent the last three years as president of Microsoft’s interactive entertainment business, focusing on the expansion of the Xbox brand and network.
“I joined Zynga because I believe that Mark’s pioneering vision and mission to connect the world through games is just getting started. Zynga is a great business that has yet to realize its full potential,” Mattrick said.
“I’m proud to partner with Mark to deliver high-quality, fun, social games wherever people want to play.”
Pincus described Mattrick as one of the top executives in the overall entertainment business who “can execute in multiple domains”.
“He’s a great coach who has inspired people to do their best work and build strong, productive teams,” he added.
Zynga board member Jeffrey Katzenberg called the appointment a “spectacular coup” for Zynga and “an incredible vote of confidence in the future prospects for Zynga”.
“There is not another executive in the world who could bring as much experience, knowledge and success in the gaming space,” he added.
Pincus oversaw Zynga’s US$1bn IPO in December 2011, since when the operator has seen its stock price slump from a high of $14.69 a share in March 2012 to a low of $2.11 in November last year. However the company’s share price rose more than 10% yesterday, climbing back above $3.
In Q1 of this year the firm recorded its first quarterly profit since listing, however it anticipates a decline when its second-quarter results are announced later this month.
Zynga has also launched its first real-money gambling offering this year, via a partnership with bwin.party, with ZyngaPlusPoker and ZyngaPlusCasino going live in April.