Don Mattrick to Replace Pincus as Zynga’s New Chief Executive Officer (ZNGA)

Embattled online social gaming services provider, Zynga Inc. (NASDAQ: ZNGA) announced on Monday that Don Mattrick will serve as its both new Chief Executive Officer and a member of the board directors , effective July 8 2013. Mattrick, who previously oversaw several business development projects at Microsoft Corp. (NASDAQ: MSFT), brings more than thirty years of experience in the entertainment industry. Zynga said that the Company’s founding Chief Executive; Mark Pincus would continue to serve as both the Chairman of the Board of Directors and Chief Product Officer. Don Mattrick, who spent six years at Microsoft prior to joining Zynga, served as the President of the Interactive Entertainment Business, Xbox 360 for three years. In this role, Mattrick oversaw a team which was responsible for building Microsoft’s Xbox 360 business. While Mattrick was the President, Xbox 360 global installed base soared 700% to more than 75 million consoles. In addition, Mattrick also managed business and services such as PC and mobile interactive entertainment business and Kenect entertainment products. Earlier, Mattrick served at the President at Worldwide Studios in Electronic Arts, a company which acquired Distinctive Software, founded by him at the age of 17 in 1991. In his 15 year tenure in Electronic Arts, Mattrick looked after developing global game franchises and brands that include “The Sims”. “FIFA” and “Need For Speed”. “I joined Zynga because I believe that Mark’s pioneering vision and mission to connect the world through games is just getting started. Zynga is a great business that has yet to realize its full potential. I’m proud to partner with Mark to deliver high-quality, fun, social games wherever people want to play,” said Mattrick in a conference call on Monday. Meanwhile, Zynga also announced that will release its fiscal second quarter results on July 25 after the market close, followed by a conference call at 5:00 p.m. EST. The Company said that the live webcast of the conference call will be available at investor.zynga.com while the replay of the webcast can be accessed through the website.