No Games: Zynga's New CEO Shakes Up Management
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Zynga's new CEO Don Mattrick late Tuesday announced a management shake-up that is part of a larger restructuring.
In the announcement, made through a blog post on Zynga, he said that Chief Operating Officer David Ko, Chief People Officer Colleen McCreary and Chief Technology Officer Cadir Lee would be leaving "to pursue other interests."
The departures had been widely anticipated after a report earlier in AllThingsD.
"We are taking layers out of the executive rank to get senior leaders closer to important product initiatives. With that in mind, I have asked the leaders to sharpen their focus and properly densify talent to resource teams," Mattrick said in the post.
As part of the restructuring, leaders from studios, tech, live ops, publishing, legal, HR and other areas will report directly to Mattrick, effective immediately.
He's holding an "all hands" meeting on Wednesday to discuss the changes with the staff.
Zynga, which makes the Facebook game Farmville, has struggled to build its customer base -- and revenue. The number of daily active users tumbled 45 percent to 39 million in the second quarter and the company issued a weak outlook for the third quarter.
The stock has fallen about 25 percent since March and is down sharply from its all-time high above $14, set early last year.
The shake-up comes in Mattrick's first 90 days, and isn't likely to be his last. On the company's last earnings call, he said he would spend the next 90 days "Getting under the hood to evaluate every aspect of our business; conducting top to bottom business reviews...looking at how we're deploying people at all levels of the company."
Mattrick came to Zynga from Microsoft, where he was the head of the Xbox team. Under his leadership, the Xbox rose to the top of the pack -- and became profitable.
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