UPDATE 3-Microsoft entertainment head to be named Zynga CEO
(Confirms Mattrick's appointment)
SAN FRANCISCO, July 1 (Reuters) - Games publisher Zynga Inc will replace chief executive Mark Pincus with Microsoft Corp executive Don Mattrick, who heads Microsoft's critical Xbox business, Zynga announced on Monday.
The news, reported earlier by AllThingsD, sent Zynga shares up more than 11 percent earlier in the day.
Pincus, 47, who controls a 61 percent voting stake in the gaming company he founded in 2007, will remain chairman of the company.
Zynga shares closed up around 10.4 percent at $3.07 on the Nasdaq.
(Reporting by Malathi Nayak, Gerry Shih and Alexei Oreskovic in San Francisco and Bill Rigby in Seattle. Editing by Andre Grenon)