Zynga Hires EA Veteran as Finance Chief
30 September 2016 - 6:50AM
Dow Jones News
Zynga Inc. plucked another executive with experience at
Electronic Arts Inc., filling a nearly yearlong vacancy at finance
chief at the mobile videogame maker.
Gerard Griffin, 49 years old, had spent the past decade at EA,
where he most recently was senior vice president of finance. He is
the latest in a string of senior hires under Chief Executive Frank
Gibeau, who in March took the reins from founder Mark Pincus after
spending more than two decades at EA himself.
In recent months, Mr. Gibeau has brought on a new marketing
chief, operating chief and president of publishing, all with
mobile-gaming experience at his former employer.
Zynga was once a powerhouse in desktop online gaming with hits
such as "FarmVille," but it has struggled as casual gamers migrated
to mobile apps. Since the company went public in December 2011, its
shares have tumbled from a high of more than $13 to its close
Thursday at $2.81.
Under Mr. Gibeau, Zynga has focused on releasing high-quality
apps to compete with companies such as King Digital Entertainment
PLC, the creator of "Candy Crush Saga" bought by Activision
Blizzard Inc. Zynga also has doubled down on casino-themed games
tied to well-known names such as the "Wizard of Oz" and "Willy
Wonka & the Chocolate Factory."
Zynga last reported earnings in August for the second quarter.
It narrowed its loss but said its user base continued to shrink and
revenue declined.
Write to Sarah E. Needleman at sarah.needleman@wsj.com
(END) Dow Jones Newswires
September 29, 2016 16:35 ET (20:35 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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