STOCK MARKET BSE NSE

Zynga COO John Schappert resigns

Published: 09th August 2012 10:35 AM  |   Last Updated: 09th August 2012 11:35 AM   |  A+A-

Zyanga_AP

John Schappert, the chief operating officer of online game maker Zynga Inc., has left the company after less than a year and a half on the job.
Zynga said in a regulatory filing Wednesday that Schappert's departure is effective immediately. The company lured Schappert away from video game publisher Electronic Arts Inc. last year. He was COO there, too.
Zynga declined to say whether it's replacing Schappert. But it said that Schappert's resignation is not related to any disagreement with Zynga on any matter relating to the company's operations, policies or practices.
"John has made significant contributions to the games industry throughout his career and we appreciate all that he has done for Zynga," said CEO Mark Pincus in a statement. "John leaves as a friend of the company and we wish him all the best."
Zynga's games are played mostly on Facebook. They include "FarmVille," ''CityVille" and "Mafia Wars." The company recently reported dismal second-quarter earnings and cut its guidance for 2012. Though both its user numbers and revenue increased, analysts and investors expected more.
On July 31 Zynga confirmed that it reorganized the company to integrate its Web and mobile units. That meant that Chief Mobile Officer David Ko and Steve Chiang, executive vice president of games, will oversee Zynga's game divisions and report directly to Pincus. Previously they reported to Schappert.
The changes signal that Pincus — who founded Zynga, serves as its chief product officer and controls more than half of its voting stock — is becoming more hands-on with the development of the company's games.
Shares of the San Francisco-based company fell 6 cents, or 2 percent, to $2.89 in after-hours trading. The stock had closed down 6 cents at $2.95 and priced at $10 when it went public in December.

Stay up to date on all the latest Business news with The New Indian Express App. Download now

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp