Microsoft’s Don Mattric Replaces Zynga’s CEO Mark Pincus

Zynga (1)Household name for Social Gaming, Zynga has announced about its replacement plans of its Chief Executive Officer Mark Pincus with Don Mattric, who was the head of Microsoft Corp.’s X-Box business. Mattric will also be on the team of board members for Zynga whereas Pincus will continue his services as its Chairman and Chief Product Officer. As the news broke of Pincus’s replacement as Zynga’s CEO, its shares made a 10% jump from $3.07 to $3.27.

This rise in Zynga’s share prices came almost after a month since it has slashed 520 jobs. We have informed our readers that to save the losses Zynga has decided to save millions of dollars which it pays to its employees in salaries.

Mark Pincus has shown his support in company’s decision and said, “I’ve always said that if I could find someone who could do a better job as our Chief Executive Officer I’d do all I could to recruit and bring that person in. I am confident that Don is that Leader”. Pincus went on and praised Mattric’s contribution to his previous organization where he turned the user base of X-Box from 10 million to 80 million.

Zynga is known for its wide range of social games like Farmville, Word with Friends and Zynga Poker. The company will try to keep up its success benchmark as a social gaming network rather than a gambling website.

It is expected that Mattric will get a huge deal of 5 million sign-up bonus with 1 million/year salary and a bonus of 2 million.