Zynga's finance chief is leaving the troubled online game company to join Facebook.
Francisco-based Zynga Inc. said Tuesday that David Wehner will take a
"senior finance position" at the social networking company. His exact
title will be vice president of corporate finance and business planning,
Chief accounting officer, Mark Vranesh, is
replacing Wehner as chief financial officer, returning to the post he
held from 2008 to 2010, while Zynga was still a private company.
also reshuffled its executive ranks, a move CEO Mark Pincus said puts
the company in a position for "long-term growth." Zynga, whose games
include "FarmVille" and "Texas HoldEm Poker," has seen its stock price
fall sharply in recent months amid concerns about its ability to make
money from mobile games, off of Facebook.
David Ko, who was
previously chief mobile officer, is now chief operations officer. Barry
Cottle, who came to Zynga from Electronic Arts Inc., is now chief
revenue officer. He was previously executive vice president of business
and corporate development.
The appointments seek to fill some of
the holes left by executives who've left Zynga in recent months. John
Schappert, Zynga's chief operating officer, left in August after less
than a year and a half on the job. Schappert's exit was followed by that
of Mike Verdu, the company's chief creative officer. And in September
Jeff Karp, the chief marketing and chief revenue officer, left the
Zynga is also reaffirming its guidance. The company still
expects adjusted earnings of 2 or 3 cents per share. Analysts polled by
FactSet expect 3 cents.
Zynga shares closed up 1 cent at $2.11 and added 2 cents in after-hours trading.