Zynga shares are down more than 21 percent over the past six months, but CEO Don Mattrick’s was still approved$57,814,391 pay package this year. The company held its annual shareholders meeting Wednesday at its San Francisco headquarters, and a spokesperson said all motions were approved and board of directors were re-elected.
Can we stick a fork in Zynga yet? Times continue to be trying under Mattrick’s transition, as the company posts a $ 61 million net loss for Q1. Founder Mark Pincus has accordingly taken himself out of day-to-day operations.
Looks like Zynga’s still finding their way. Six months after taking the post, Mark Vranesh is dropping out as the company’s CFO.
Don Mattrick has revealed in an interview Zynga’s plans to recover in the mobile space, with new incarnations of Farmville and Words With Friends.
By their standards, Zynga has fallen from grace, from 300 monthly MAUs (million active users) in 2012 to 112 MAUs today. Mattrick, who is often credited by his peers for turning around the Xbox business when he was at the helm, spent the past year trimming the company down amidst steady losses.