Zynga Does a Management Shakeup
Zynga is doing a major management shakeup as it shifts to focus more on mobile, announcing on Tuesday it has promoted its chief mobile officer, David Ko, to the role of chief operations officer.
In another big change, chief financial officer David Wehner resigned to take a job at Facebook. Zynga has replaced him with chief accounting officer Mark Vranesh.
The company, which has struggled with users shifting away from social games to mobile ones, has seen shares drop more than 75 percent so far this year. The stock moved fractionally higher after-hours as the company reaffirmed its 2012 financial outlook. (Click here to get the latest quotes for Zynga.)
The social and mobile game maker has done a number of reorganizations this year as it increasingly shifts to focus on the fast-growing mobile market.
In October, Zynga announced lay-offs of some 3,000 people — 5 percent of its staff — as it reorganizes. (Read More: Zynga to Slash Staff by 5%, Retire 13 Games.)
It has also had a number of unexpected departures, losing its chief marketing officer, among others. (Read More: Another Zynga Exec Says Goodbye.)
Zynga CEO Pincus weighed in with a blog, writing: "We are positioning ourselves for long-term growth and I'm confident that we have the breadth and depth of management talent to deliver on our mission of connecting the world through games."
Click here to read Pincus' blog.
—By CNBC's Julia Boorstin
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