Zynga Stock Jumps as Xbox's Don Mattrick Named New CEO
Zynga, a company most well known for their creation of the popular game Farmville, has just named Don Mattrick as their new CEO.
Mattrick has found much success working with Microsoft and Xbox, where he was the head of the Interactive Entertainment division. Mattrick worked for Microsoft for seven years.
In a blog post, Zynga's founder, Mark Pincus, explained why the company wanted Mattrick and what they think he will do for the company.
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"Don's had major leadership roles at Microsoft, Electronic Arts and Distinctive Software, which he founded when he was 17 years old," he wrote. "Don is unique in the game business. He can execute in multiple domains – hardware, software and network, and he's been the person responsible for game franchises like 'Need for Speed,' 'FIFA' and 'The Sims.' He's one of the top executives in the overall entertainment business and he's a great coach who has inspired people to do their best work and build strong, productive teams."
And it appears that the move to hire Mattrick is a good one. The announcement was made just yesterday, and the Zynga stock is responding very well to the change in leadership. The stock has jumped up 23 percent since the announcement was made, according to USA today.
Will Mattrick's role as CEO help Zynga soar to the level of Xbox in the gaming world? Zynga certainly hopes so, as Pincus noted in his announcement, Mattrick "turned Xbox into the world's largest console gaming network, growing its installed base from 10 to 80 million and transformed that business from deep losses to substantial profits. And he has grown the Xbox Live player network from 6 to 50 million active members."
