In an abrupt changing of the guard, Zynga has announced that Chief Executive Don Mattrick will step down and founder Mark Pincus will return to lead the company as it struggles to adapt to the changing tastes of gamers. Zynga Inc's shares, which have been below $5 for over a year, were down as much as 11 percent at $2.58 in extended trading following the news. Sterne, Agee & Leach analyst Arvind Bhatia said the leadership change had sent the "wrong message" because the San Francisco-based company was beginning to move in the right direction under Mattrick. Mattrick, who Zynga said will receive a $4 million payout, was given the top job in 2013 to help turn around the company's waning fortunes after it failed to capitalize on the popularity of its "FarmVille" game with new hits.
via Gaming News Headlines - Yahoo! News http://ift.tt/1FnEyXb
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