Feeds

Zynga CFO cuts out the middleman and moves to Facebook

Show me the money, says latest departing exec

Secure remote control for conventional and virtual desktops

Sinking ship Zynga has lost yet another senior executive, as chief financial officer Dave Wehner abandons the firm for a glittering career at Facebook.

Zynga said that Wehner had resigned for a "senior finance position" at the social network that more or less provides Zynga's revenues.

"Dave remains a good friend to us all and we wish him success in his next role," Zynga head Mark Pincus said in a canned statement.

The company has also recently lost John Schappert, its chief operating officer and Jeff Karp, chief marketing officer in the last few months among other top execs fleeing for the exit as Zynga keeps disappointing with its earnings and its share price heads for rock bottom.

To fill some of the gaping holes in its management team, the social gaming firm said Mark Vranesh, previously chief accounting officer, would take over as CFO and former chief mobile officer David Ko would become COO.

Zynga also moved Barry Cottle out of EVP of business and corporate development and into chief revenue officer and promoted Steven Chiang from EVP of games to president of games.

Pincus said in a note to employees that the employee changes were coming at "an important time".

"We are positioning ourselves for long-term growth and I’m confident that we have the breadth and depth of management talent to deliver on our mission of connecting the world through games," he said.

"With some of our recent game success and the great work that’s being done to move with our players to mobile, we’re making progress. We still have a lot of work to do, but it’s been great to see so many of you step forward to put us on the move again."

Zynga's shares have plummeted since July, when it announced poor second quarter earnings and showed revenues from Facebook had fallen. Without Facebook, Zynga needs to be making money from mobile games, something that's not happening fast enough for investors' liking. The shares have dropped by 58% since July 25, the day it released the results. ®

The essential guide to IT transformation

More from The Register

next story
Assange™: Hey world, I'M STILL HERE, ignore that Snowden guy
Press conference: ME ME ME ME ME ME ME (cont'd pg 94)
Premier League wants to PURGE ALL FOOTIE GIFs from social media
Not paying Murdoch? You're gonna get a right LEGALLING - thanks to automated software
Caught red-handed: UK cops, PCSOs, specials behaving badly… on social media
No Mr Fuzz, don't ask a crime victim to be your pal on Facebook
Ballmer quits Microsoft board to spend more time with his b-balls
From Clippy to Clippers: Hi, I see you're running an NBA team now ...
Online tat bazaar eBay coughs to YET ANOTHER outage
Web-based flea market struck dumb by size and scale of fail
Amazon takes swipe at PayPal, Square with card reader for mobes
Etailer plans to undercut rivals with low transaction fee offer
Call of Duty daddy considers launching own movie studio
Activision Blizzard might like quality control of a CoD film
US regulators OK sale of IBM's x86 server biz to Lenovo
Now all that remains is for gov't offices to ban the boxes
prev story

Whitepapers

5 things you didn’t know about cloud backup
IT departments are embracing cloud backup, but there’s a lot you need to know before choosing a service provider. Learn all the critical things you need to know.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.
Rethinking backup and recovery in the modern data center
Combining intelligence, operational analytics, and automation to enable efficient, data-driven IT organizations using the HP ABR approach.
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.