Mark Pincus was appointed as Zynga’s CEO for a second. However, he quit the job within a year after the appointment. He will be working as the chairman of the board of directors then.
Pincus announced that he would hand over the position to Frank Gibeau after the stock market closed on Tuesday. Gibeau has 25 years working epxerience in gaming industry. He used to work for Electronic Arts and made great performance for the mobile gaming business under his leadership. The Simpsons: Tapped Out and Plants vs Zombies became the profitable games.
It sounds reasonable that the company appointed Gibeau as its CEO as it wishes him to make excellent performance again.
Pincus worked as the CEO for the first time from 2007 to 2013. Don Mattrick took over the CEO position from him then. However, Matttrick quit thejob in the begining of 2015. Pincus worked as the CEO for a second time then.
Zynga launched a series of new games after Pincus’ assumption of duty. Actually, the new games could not help the company to save the declining business performance. In the past year, its share price kept under $3.5 per share, closing at $2.16. Its market value was $2 billion.
Zynga became a listed company in late 2011 and its share kept increasing then. It received the peak price at $14.69 on March 2, 2012. However, the gaming players paid much attention to mobile games then, and Zynga failed to make transition of business.
Zynga released its Q4 2015 earnings. It received $186 million revenue and decreased by 4% on the year-on-year basis. Its net deficiency was $47 million.
Pincus claimed that Gibeau has been participating in company business. He took 7 months to make preparations for the new post during he worked as the director of the board of directors.