Zynga Inc (ZNGA): Mark Pincus steps down from operational roles

Posted Apr 23, 2014

Zynga Inc (NASDAQ:ZNGA) co-founder Mark Pincus has stepped down from overseeing all operational roles at the company. He will be shifting to non-executive chairman of Zynga and is giving up the title of chief product officer.

Pincus said that he and current CEO Don Mattrick talked about the need for a change after 10 months of transitioning. Pincus stepped down from the CEO position last year.

?I had wanted to stay on doing the product role for a while, because I wanted to put my hands on the product and make sure the company continued to also pursue its social mission,? stated Pincus. ?Don and some of the existing team and new people really embraced that and, so, ultimately a ship is better with one captain putting a hand on the wheel.?

Mattrick said that Pincus made “Zynga into an entertainment leader, turning brands like FarmVille, Words With Friends and Zynga Poker into household names and daily habits for hundreds of millions of consumers.” Mattrick added that he and Mark will continue to be close partners and work together behind-the-scenes.

Pincus will be present just one day a week at most, but he will not have any management duties. He will spend his time doing personal investing as an angel investor. Pincus is thinking about creating an incubator.