Zynga’s new CEO Don Mattrick to get $50 million pay package

Last Updated: Thursday, July 4, 2013 - 09:27

Zee Media Bureau

San Francisco: Zynga Inc’s new CEO Don Mattrick will get a hefty pay package of USD 50 million, as per a news wire report.

Zynga co-founder Mark Pincus this week handed over the helm of the struggling social games company to Microsoft entertainment division chief Don Mattrick.

Word that videogame industry veteran Mattrick would be in command of San Francisco-based Zynga beginning next week caused shares to jump more than 10 percent to $3.17.

Last month, Zynga announced that it was cutting nearly a fifth of its staff as it refocuses on games for mobile devices.

Zynga has been pulling the plug on unpopular games and investing in titles for play on smartphones or tablets, as well as its own online arena at zynga.com.

Zynga rose to stardom by tailoring games for play by friends on Facebook. But the two firms have grown apart in the past year as Facebook develops new revenue streams and Zynga seeks new consumers.

With AFP Inputs

First Published: Thursday, July 4, 2013 - 09:27

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