Zynga Loses 2 Vice Presidents
It’s been a rough week for Zynga. The company’s stock has declined about 10 percent in the past 5 trading sessions and now there's news that two more top execs are heading for the door, which was first reported by Bloomberg.
On the heels of news that it’s losing its Chief Creative Officer Mike Verdu, Thursday it leaked out that the company is losing two vice presidents, one from its marketing division, one from its games unit: Bill Money, a VP of the company’s game studios, and marketing VP Brian Birtwistle. The changes were first reported by Bloomberg.
Zynga spokesperson Dani Dudeck sent us this statement:
"Zynga's voluntary attrition rate was around 1% for the first four years, and our current attrition levels are not only below what we expected and modeled in our post-IPO planning, they continue to stay well below the industry average. Developing great leaders is an essential part of Zynga's core values — we're proud of our record in that regard — and it's not at all surprising that some would move on and or retire post-IPO. Zynga continues to lead the industry with the top talent in social game development. We're proud of the teams working hard to create the next generation of social games including the recent launches of The Ville, ChefVille and the coming launch of FarmVille 2."
This news would likely have flown under the radar at a different time, but earlier this week Verdu announced he’s leaving to start his own business. \(Read More: Can Zynga Be Saved? \)
Verdu stressed the fact that he’s not leaving because of the company’s falling stock — down 70 percent year-to-date — or its slowing growth, but because he was ready to start his own company, in which Zynga CEO Mark Pincus is investing. But there are concerns about filling his void as the “creative conscience of the company.”
And Verdu’s departure comes just a couple weeks after Zynga pushed out its Chief Operating Officer John Schappert as it restructured to focus on mobile games. (Read More: Zynga's Chief Operating Officer Quits After Demotion.)
It’s also lost a handful of managers of games like "Cityville" and "Mafia Wars 2."
—By CNBC's Julia Boorstin
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