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Report: 3 more Zynga execs head for exit

  • Sources tell Bloomberg Zynga (ZNGA) games SVP John Osvald, games VP Nathan Etter, and casino games chief Jesse Janosav have left the company since Don Mattrick was named CEO.
  • Osvald and Etter helped run the team responsible for the FarmVille franchise (still Zynga's biggest revenue driver), and Janosav was in charge of the successful Zynga Poker and Zynga Elite Slots (based on virtual, rather than real, money).
  • The report comes a few days after shares dove thanks to Zynga's light Q3 guidance and (more importantly) decision not seek a U.S. online gambling license.
  • Om Malik argues Mark Pincus is at the root of Zynga's problems, and predicts Mattrick will only last 16-24 months. "That’s about the time it takes for Pincus to fall out of love with new executive hires."
  • Other recent departures: Andy Tian, Dan Porter, Brian Reynolds, Jonathan Flesher, David Wehner
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Comments (6)
  • haleiwahu
    , contributor
    Comments (3742) | Send Message
     
    Doesn't surprise me! They're making a good move. Bail before the boat sinks.
    29 Jul 2013, 09:46 PM Reply Like
  • Stone Fox Capital
    , contributor
    Comments (7177) | Send Message
     
    agree that having Pincus still on board is the biggest problem, but I'm guessing the board listens to Mattrick and not Pincus going forward.
    29 Jul 2013, 10:03 PM Reply Like
  • timetosave
    , contributor
    Comments (36) | Send Message
     
    This company gets way too much face time in the news.
    29 Jul 2013, 10:43 PM Reply Like
  • Nocifer
    , contributor
    Comments (174) | Send Message
     
    Glad that I bailed out at first hint of bad news after Mattrick became CEO. I might buy if share gets really cheap just to re-sell 50 cents higher. I suspect that next 6 to 12 months, Zynga share price will have high volatility so I'm taking advantage of quick cash via short-term trading..

     

    I never forget first wave of executive exodus last year that really sent Zynga price down big time.
    29 Jul 2013, 11:00 PM Reply Like
  • activistinvestor
    , contributor
    Comments (52) | Send Message
     
    These departures may be a good thing. As reported, the sections of the business these people were in charge of are declining in revenue. This could be house cleaning. Mr. Mattrick has a good track record. Count me in. I plan on adding to my long position. Analysts and others said negative things about HPQ and drove the share price under $12 last November. I believed HPQ found the right person in Meg Whitman. I opened a large position in HPQ under $12 last November and took the contrarian view. You see what the share price is today. You have to be an independent thinker and not follow the sentiment. I believe Zynga has the right guy for the job. Sometimes all you need is a change in management. Good luck to all.
    29 Jul 2013, 11:53 PM Reply Like
  • estebanshedgefund
    , contributor
    Comment (1) | Send Message
     
    As a former Softie, I can say Mattrick is good for change leadership.
    30 Jul 2013, 01:14 AM Reply Like
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