Zynga Shakeup Sees CFO David Wehner Exit As Others Receive Promotions
Big shakeups at social gaming company Zynga on Tuesday as CFO David Wehner announced his exit from the company and several other executives moved up the ranks.
Wehner on Tuesday announced that he was taking a senior finance position at Facebook. Wehner will be replaced by Chief Accounting Officer Mark Vranesh. Vranesh is stepping back into a role he controlled from May 2008 to August 2010.
Also moving up the company’s ranks are new COO David Ko and Chief Revenue Officer Barry Cottle. Steven Chiang was also announced as the President of games.
Zynga Founder and CEO Mark Pincus said of David’s exit:
“Dave remains a good friend to us all and we wish him success in his next role. Mark, David, Barry and Steve are rooted in our culture, committed to our future and part of the talented bench of leadership at Zynga. I’m confident we have the right team to deliver on our mission of connecting the world through games and position us for long-term growth.”
Zynga has come under fire recently for laying off 100 employees in Austin, Texas while announcing plans to close its Boston gaming studio. Zynga announced those layoffs after beating Q3 revenue estimates with $317 million earned. Analysts had expected Zynga to pull down revenue of $256 million.
According to Pincus the company is taking new steps to drive revenue and profits:
“We’re implementing a number of steps to drive long-term growth and profitability. The successful launches of ‘FarmVille 2′ and ‘ChefVille’ in the third quarter demonstrate that when we develop great games, our large player audience engages. It’s more clear than ever that along with search, shop and share, play is a fundamental pillar of the Internet, and Zynga continues to be the leader.”