⚡ Get All Content for 20% Off ⚡

Zynga Hires Microsoft Exec as its New CEO Co-founder Mark Pincus will remain chairman of the gaming company and serve as chief product officer.

By Brian Patrick Eha

entrepreneur daily

Opinions expressed by Entrepreneur contributors are their own.

Teckles Photo Inc.
New Zynga CEO, Don Mattrick

Zynga, maker of the FarmVille franchise and other social games, has hired a new chief executive officer, who will take over from co-founder Mark Pincus. Don Mattrick, formerly Microsoft's president of interactive entertainment, will be starting next week in the top job at Zynga, Pincus said in a company blog post.

The new CEO no doubt has a mandate to turn around the struggling gaming company.

Last month, the company announced that it would be laying off 520 people, about 18 percent of its staff, and closing its offices in New York City, Los Angeles and Dallas. And that was only the latest of a string of downsizing efforts. Even with a spike in its stock price over today's news, Zynga's market capitalization currently stands at $2.44 billion, far below its IPO valuation of $7 billion.

"Zynga has so much more potential ahead, the opportunity to be an Internet Treasure [sic] and deliver on our mission of connecting the world through games," Pincus wrote. He added that he will continue as Zynga's chairman and chief product officer, saying he believes he has always best served the company in that role, "developing games that could entertain and connect millions."

Related: Zynga Layoffs: What Happens When Startups Grow Too Fast

Brian Patrick Eha is a freelance journalist and former assistant editor at Entrepreneur.com. He is writing a book about the global phenomenon of Bitcoin for Portfolio, an imprint of Penguin Random House. It will be published in 2015.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Side Hustle

The Remote Side Hustle a 43-Year-Old Musician Works on for 1 Hour a Day Earns Nearly $3,000 a Month: 'All From the Comfort of Home'

Sam Ziegler wanted to supplement his income as a professional drummer — then his tech skills and desire to help people came together.

Business News

Costco CFO Reveals Uncertain Fate of $1.50 Hot Dog and Soda Combo

CFO Richard Galanti reveals that the price will stay the same — but only "for a while."

Business News

The Most Unexpectedly Popular Side Hustle of the Decade Has Low Startup Costs and High Markups

A new report shows that vending machines are a popular investment — and the industry is set to grow up to $3 billion by 2031.

Marketing

Ever Wonder Why Certain Websites Rank Higher Than Yours? This SEO Expert Reveals The Secret to Dominating Search Results

It's often the smart use of SEO, now supercharged with AI, particularly in keyword optimization.

Business News

AI Is Impacting Jobs. Here Are the Gigs Affected the Most, According to an Analysis of 5 Million Upwork Postings

The researcher said in the report that freelance jobs were analyzed first because that market will likely see AI's immediate impact.

Leadership

Former Interrogator Shares 5 Behaviors Liars Exhibit and How to Handle Them

Five deceptive behaviors to look for and how to respond to those behaviors when you encounter them.