Zynga loses head of China studio

Zynga loses head of China studio
Seth Tipps

By Seth Tipps

June 25th 2013 at 8:01AM

Zynga stock drops five percent as Andy Tian steps down

The head of Zynga's China studio, Andy Tian, will step down from his post at the end of the month.

The company has struggled to rebound from a spate of departures last year and is still reeling from a lost of investor confidence after cutting 18 percent of its workforce and closing Zynga New York, acquired as OMGPOP last year for $200 million.

The stock price has dropped another five percent since the loss of Tian was reported.

According to the Wall Street Journal, the position will be filled by John Yin, who currently serves as a studio director at the China office and was formerly an executive producer at EA.

The move may not be the sole cause of the stock drop as Monday wasn't the best for the market in general and Zynga also revealed in SEC filings that it had spent $310.5 million on acquisitions since 2010.