Zynga CEO Pincus steps down for a second time

Frank Gibeau will take over the day to day running of the business, Mark Pincus will become executive chairman of the board 

Zynga CEO Mark Pincus has stepped down from the role for a second time having re-joined the social casino developer less than a year ago. [private]

Zynga board member Frank Gibeau will jump into the hot seat on March 7, with Pincus becoming executive chairman of the board.

Gibeau joined Zynga’s board last year and has more than 25 years’ experience in the interactive entertainment sector having held a number of senior roles at Electronic Arts.

“I recruited Frank seven months ago to become an active board member to advise and coach our teams,” Pincus said in a statement.

“Frank has mentored product teams, led roadmap meetings and delivered inspiring talks to our game making and PM communities.

“Equally important, we have worked well together and share a common vision for Zynga around mobile and social gaming,” he added.

Pincus said he would remain an active member of the team and would continue to devise strategy and push the business forward.

“I will focus on driving our vision and working with a small number of live and new product teams to help drive innovative new social experiences for our players,” he added.

Pincus’ exit is the latest in a line of senior departures, with COO Clive Downie, head of games Mark Skaggs and CFO David Lee being shown the door in recent months.

It’s been a tough start to the year for Zynga, after reporting a slump in FY 2015 profits as it struggles to transition its business to mobile.

The firm also announced it had put its San Francisco headquarters up for sale, with the office estimated to be worth around $500m.