Zynga gives new CEO millions to leave Microsoft

Jul 04, 2013

Struggling Web game maker Zynga gave new CEO Don Mattrick a $5 million signing bonus and stock awards valued at $40 million to lure him away from his previous job overseeing Microsoft Corp.'s Xbox console for video games.

Mattrick's compensation package also includes a $1 million and a guaranteed bonus of about $1 million this year.

Zynga Inc. announced Mattrick would replace company co-founder Mark Pincus as CEO earlier this week, but didn't detail how much it's paying its new leader until late Wednesday.

Zynga is counting on the 49-year-old Mattrick to reverse a steady string of losses that has cause the company's stock price to plunge 66 percent from its price of $10 in late 2011.

The stock closed at $3.42 Wednesday.

Explore further: Out-of-patience investors sell off Amazon

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Lord_jag
5 / 5 (1) Jul 04, 2013
Yeah... because X-box is doing so well right now, right?

Why doesn't anyone ever give me $40 million for doing a poor job?