Zynga founder Mark Pincus stepped down as CEO of the company only a year after he was re-appointed to take the reins of the struggling gaming developer. It was announced on Tuesday that Mr. Pincus will be replaced by industry veteran Frank Gibeau, who will assume his role on March 7.
Commenting on the latest leadership change, Mr. Pincus said that the shake-up was to a great extent his own idea and came following his partnership with Mr. Gibeau over the past several months. He further noted that he will still be involved in the company’s daily operations.
The executive shuffle resembles strikingly the one that took place almost three years ago, when Mr. Pincus left his post as Zynga CEO for the first time. He handed the company to Don Mattrick, who had formerly spent 15 years at major gaming developer Electronic Arts. Given his experience, Mr. Mattrick was expected to lead the company to a turnaround. No turnaround was achieved by April 2015 and Mr. Pincus helmed the company for a second time.
Mr. Gibeau joined Zynga’s board in August 2015 and has ever since been actively navigating the company through the challenges it has faced. Similarly to the previous time when the company changed hands, it is now once again to be headed by a former EA executive. Mr. Gibeau had spent two decades at the popular gaming studio.
Commenting on his appointment as CEO of Zynga, Mr. Pincus said that Mr. Gibeau has the necessary skills and knowledge to build a strong team and to ship market-leading games. The company’s founder further noted that its new CEO is a seasoned leader and his experience in the industry will most certainly help him cope with the challenges it is facing on a regular basis.
Following the announcement about his appointment, Mr. Gibeau pointed out they are not currently the company they want to be, but they certainly have the strengths needed to thrive on. After joining Zynga’s board, Mr. Gibeau visited its headquarters twice a week, discussing financial and operational matters with Mr. Pincus. The company attributed to his involvement the revitalization of some of its once-popular brands and the success of its slots. Mr. Gibeau said on Tuesday that the company will now focus and build on those core brands.
