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Tuesday, Jul 2
Zynga (ZNGA +10.3%) is matching yesterday's gains as investors give a thumbs-up to the hiring of...
Zynga (ZNGA +10.3%) is matching yesterday's gains as investors give a thumbs-up to the hiring of Don Mattrick as CEO. Jim Cramer: "[$1.6B] in cash for a [$2.4B] market cap with a new ceo - that seems pretty hopeful. I am mindful about how well GRPN did after sacking Mason." The WSJ reports ~95% of Mattrick's compensation will be in stock. Fast Company reports Microsoft's (MSFT) pending reorg and the fact Mattrick "would not be getting a bigger role" spurred his departure. It also points out Mattrick was "the force behind The Sims" at Electronic Arts, and championed the Kinect at Microsoft. A Microsoft exec: "Don has this really ambitious vision ... Then he’s just relentless, dogged about pushing people beyond their comfort zones."