Pincus Steps Down as CEO of Zynga

Mark Pincus founder and CEO of Zynga  is to step down from his current role as CEO of Zynga the social and Facebook games studio. The Nasdaq traded Zynga Inc informed shareholders that Pincus will be replaced by Electronic Arts and Microsoft Games veteran Don Mattrick. Pincus will remain at the company as Chairman of the Board and Chief Product Officer.

Canadian Don Mattrick, 49, joins having spent seven years as President of Xbox and IEB [Interactive Business Group]. During this period he saw Xbox become a leader in the console entertainment sector of gaming, with Xbox launching products such as Xbox live and Xbox Games Studio. It is is widely thought that Mattrick will focus on delivering Zynga social games on mobile and tablet platforms.

Mattrick commented :“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,” I’m proud to partner with Mark to deliver high-quality, fun, social games wherever people want to play.” 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,”

American Mark Pincus oversaw the company $1bn stock flotation on the NASDAQ, in December 2011, since when then the social games 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.

Pincus also saw the company add focuses into real money gaming with partnerships with Gibraltar based – Bwin Party Plc