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GAMING NEWS

Zynga Chief Financial Officer Leaves For Facebook

Posted on Tuesday, November 13 @ 13:37:03 Eastern by Jonathan_Leack

Just a year ago, Zynga was looking like the next great success story. However, that story has quickly changed culture in a matter of months, and yet another one of its officers has left the company.

Zynga has announced the departure of Chief Financial Officer, David Wehner, of whom seeks greener pastures at a different sinking ship: Facebook.

The company has already lost several key figures including its Chief Operating Officer, Chief Commercial Officer, and just about every other chief you can think of. As a result of these dramatic changes, Zynga is restructuring its leadership with employees such as Executive Vice President Barry Cottle and Chief Accounting Officer Mark Vranesh filling empty positions.

Zynga has been known for its presence in the casual gaming market with titles such as Farmville and Mafia Wars. Despite a quick onset of overwhelming demand, the company has been in decline as it's struggled to produce the next great hit that distracts people while at work or school. The company's future relies on creativity, something it hasn't shown much of, and the fate of a company worth over one billion dollars is at stake.
Tags:   zynga


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Comments
  • De-Ting
    De-Ting

    Joined: Nov 2006
    Posted: Nov 13th, 2012 at 2:31 pm
    I read "Zangief Financial Officer" at first glance.
  • OdiousLupous
    OdiousLupous

    Joined: Jul 2011
    Posted: Nov 13th, 2012 at 10:23 pm
    Ultimate Atomic Buster ftw
  • oblivion437
    oblivion437

    Joined: Nov 2006
    Posted: Nov 13th, 2012 at 5:24 pm
    There's a lovely article on cracked that describes this situation.

    "6 Emails You Get When Your Company is About to Go Under" by Dan Seitz.

    Good article.
  • pennpsu
    pennpsu

    Joined: Sep 2010
    Posted: Nov 13th, 2012 at 7:13 pm
    My favorite part of that story is every officer of zynga sold their shares when the PPS was around 12, days before their earnings report came out and the stock tanked. Then, after the PPS was hovering around 3 dollars they offered deffered options to rank and file employees in place of cash. Nice guys.
  • cheesegod99
    cheesegod99

    Joined: Jun 2007
    Posted: Nov 14th, 2012 at 5:06 am
    Gaming websites need to stop talking about Zynga like any of their readers actually play Zynga games. Maybe we just like to watch it fail because it represents our nemesis, casual gaming? Much to think on, I have...
  • oblivion437
    oblivion437

    Joined: Nov 2006
    Posted: Nov 14th, 2012 at 7:15 am
    Zynga is an object lesson in everything wrong with game development today. It's not the 'casual' versus 'hardcore' distinction. It doesn't matter what kind of games they make. What matters is how they make them and their overall behavior in their industry. Industries are less like machines or circuits and more like ecosystems. Zynga is a parasite in this analogy. It offers nothing new, offers no iterative improvements, and possesses no native talent for innovation. What it cannot buy it steals. Enough companies acting like Zynga would kill the industry outright.
  • cheesegod99
    cheesegod99

    Joined: Jun 2007
    Posted: Nov 14th, 2012 at 2:27 pm
    I don't disagree. They are a corrupt company that makes unoriginal, and in some cases blatantly stolen, games. But why do we keep hearing about them when we (gamers) don't care about the company?
  • oblivion437
    oblivion437

    Joined: Nov 2006
    Posted: Nov 14th, 2012 at 5:33 pm
    I think a lot of gamers, particularly those concerned about what Zynga is and what it signifies, are following news of its downfall with a mixture of shadenfreude and hope. If this kind of blatantly parasitical activity is consistently punished with financial ruin it will decrease. It does represent the seemingly implacable foe of every conscientious gamer out there; a degenerate corporate culture that is eating itself and ensuring the collapse of its own ecosystem.

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