HireVille: Zynga Hires New COO Ahead Of Q3 Results Call
Former Ngmoco CEO Clive Downie has joined Zynga, a move announced shortly ahead of its Q3 results. This marks CEO Don Mattrick's first C-suite hire since his appointment, as these results will be his first full quarter as CEO.
Downie's sudden departure earlier today from DeNa West, the rebranded Ngmoco which was acquired by Japanese gaming giant DeNa for $400 million in 2010, can now be understood in the context of this appointment. Downie replaces, or more accurately fills the hole left by, David Ko, the former COO who left shortly after Mattrick's appointment from Microsoft. As former VP Marketing at Electronic Arts, Downie is a known quantity to Mattrick, and represents a heavyweight hire ahead of results predicted to show a further drop in revenues for the social gaming company.
In a statement, Mattrick said:
I have known Clive for more than two decades and am pleased to welcome him to the team. He is a seasoned leader with a deep understanding of consumer, marketing and mobile engagement, international experience operating both in [Europe] and Japan and a rich background in game publishing - all of which are incredibly valuable as Zynga navigates its move to mobile,' said Mattrick in a statement. 'I enjoyed my prior experiences working with Clive at Electronic Arts and have appreciated what he accomplished in the past five years at DeNA. As we build new leadership capabilities and focus the company on long term growth, Clive's customer-centric point of view and proven track record will be invaluable to Zynga's future.
Downie's major task as COO is likely to be, at least in the immediate term, to supervise efforts to reduce costs and increase profitability at Zynga, as the company seeks to lower its burn rate while fulfilling Don Mattrick's promise that it will innovate out of trouble. Zynga's revenues dropped 31% against the prior year period in Q2 2013. With a $1.6 billion cash pile and Q3 losses projected at $43 million to $14 million in the Q2 statement, Zynga is far from out of the races. However, Mattrick will be under pressure to generate profits. This appointment is a step forward in his execution plan.
More will no doubt be said in Zynga's Q3 earnings call at 2pm Pacific Time. At the time of writing, Zynga shares remained down slightly on their opening price at $3.54.
Sources: Venturebeat, Gamesindustry.biz
Post a Comment for "HireVille: Zynga Hires New COO Ahead Of Q3 Results Call"