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: Oregon sues Oracle over failed health care website

1 /5 (1 vote)
add to favorites email to friend print save as pdf

Related Stories

Zynga insiders price new stock offering at $12

Mar 29, 2012

(AP) -- Online games company Zynga Inc. said Wednesday that CEO Mark Pincus and other insiders will sell some of their stake at $12 a share, slightly below Wednesday's closing price.

Zynga founder, other insiders to sell 43M shares

Mar 23, 2012

(AP) -- Zynga's CEO and other insiders at the online games company plan to sell 43 million shares of stock in a public offering that will boost the amount of stock available for general trading by 35 percent.

Zynga chief marketing, revenue officer resigns

Sep 10, 2012

(AP)—Jeff Karp, the chief marketing and chief revenue officer at Zynga, has become the latest executive to leave the struggling online company behind "FarmVille" and other games.

Recommended for you

Oregon sues Oracle over failed health care website

4 hours ago

Oregon Attorney General Ellen Rosenblum says she's filed a lawsuit against Oracle Corp. and several of its executives over the technology company's role in the state's troubled health insurance exchange.

Google buys product design firm Gecko

4 hours ago

Google on Friday confirmed that it bought Gecko Design to bolster its lab devoted to technology-advancing projects such as self-driving cars and Internet-linked Glass eyewear.

Ticketfly buying WillCall for on-premise data

Aug 21, 2014

Ticketfly Inc., a San Francisco-based technology company among several posing a challenge to Ticketmaster, is acquiring WillCall Inc., a crosstown rival that turns your smartphone into a mobile wallet at live events.

HP revenue inches up after years of decline

Aug 20, 2014

Hewlett-Packard on Wednesday reported that its quarterly revenue rose for the first time in three years, nudged by improved computer sales everywhere except Russia and China.

Restaurants experimenting with pay-in-advance tickets

Aug 20, 2014

With restaurant patrons increasingly jumping on the Internet to make reservations, some high-end eateries here and across the country are adding a new tech wrinkle: having their clientele pay for their meal in advance using ...

User comments : 1

Adjust slider to filter visible comments by rank

Display comments: newest first

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?