In a letter to staff, new Zynga
CEO Don Mattrick explained some recent executive changes. Amidst an executive shuffle, Cadir Lee, Colleen McCreary, and David Ko will be departing the company. Lee was a technical lead, McCreary headed personnel acquisition, and Ko was recently promoted to chief operations officer
, following the departure of John Schappert.
The email from new CEO Mattrick stated that the company is "taking layers out of the executive rank to get senior leaders closer to important product initiatives." He is asking the leaders to "sharpen their focus and properly densify talent to resource teams."
Mattrick concludes the email by saying "with the above in place, I believe that we will have the best chance to grow, build a world-class executive team and culture, establish cadence and really become committed to important priorities and opportunities for our long-term success."
In the company's last quarterly earnings call, Mattrick claimed to be "getting under the hood to evaluate every aspect of our business; conducting top to bottom business review" and "looking at how we're deploying people at all levels of the company." Zynga stock is essentially unchanged from opening at $2.91 per share. An "all hands" meeting is scheduled for August 14 for the new CEO to discuss upcoming changes, including these personnel moves.