Zynga strips Schappert of games oversight role
Wednesday, 1st August 2012 at 10:28 am
Social games giant reorganises board as it attempts to revive company growth
Zynga COO John Schappert has been stripped of his role overseeing games development in a board reshuffle at the company.
As reported by Bloomberg, people “familiar with the matter” said the re-organisation was made in an effort to revive growth at the social games giant after a difficult period on the stock market of late.
Mobile operations head David Ko and executive VP of games Steve Chiang will now report directly to CEO Mark Pincus, rather than Schappert.
The report states the Schappert, who was poached from publishing giant EA last year with a pay package of $42.8million, has lost support within the company and has taken some blame for its under performance.
Since launching its initial public offering in December, stock in the company has dropped by 71 per cent.
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