Zynga loses executives: chief marketing officer leaves

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Zynga chief marketing officer Jeff Kap

The Sina Science and technology news Beijing time September 11 morning, Zynga chief marketing Officer Jeff Kap (Jeff Karp) left office in Monday as the latest executive to leave the beleaguered social gaming company.

Zynga disclosed the departure news in a filing with the Securities and Exchange Commission (SEC), but did not disclose any specific reasons. Prior to the Chapeute, Zynga COO John Schappert and chief creative Officer Mack Vaudoux (Mike Verdu) resigned in August.

As the world's biggest social-game developer, Zynga has lost nearly three-fourths of its market capitalisation since its IPO last December.

"Zynga's executives are spreading like wildfire, and I've never seen that happen," he said. Mike Hickey, a securities firm National Alliance Nomura analyst Mack Sigi, said he had been focusing on the gaming industry for 8 years.

In August this year, when Zynga shares had hit a huge decline, the company said in its regulatory filing that it would grant more shares to employees as compensation. The move may be to encourage staff to remain in office, but the turnover in recent weeks has continued.

"When a large number of companies with a sharp fall in share prices are in despair, the business situation may be bad." If everyone is optimistic about the future and the pay is tied to a new, lower-priced stake, they usually don't leave. "Sigi said.

Zynga was one of several popular consumer internet companies listed at the end of 2011, but the company is in trouble because of the speed of user churn.

Groupon has also lost four-fifths of its market capitalisation since the IPO, and the company's accounting problems are widely criticized. This Monday, the company appointed Blaine Stevens (Brian Stevens) as the new chief accounting officer.

Zynga reported a net loss in its second-quarter results in July this year, as well as a downgrade of earnings forecasts for the year, prompting shareholder lawsuits. The company blamed the bad results on Facebook's algorithm mutation and postponed the release of new games.

"The Facebook game is likely to shrink, and Zynga is offsetting this trend by moving games," he said. "But this turning point may take months or even years to complete," Sigi said. ”

Zynga shares fell 2.1% per cent in Monday, at $2.82.

Hoffman, a co-founder and CEO of Zynga, Hoffman, said in Monday about Zynga's issue: "They have not been deployed to diversify as quickly as possible. (PEI)