Zynga has announced Don Mattrick will be taking on the role of CEO starting next week at the social game company, confirming reports from earlier today. In a well worded letter from current CEO and founder Marc Pincus to his employees, Mattrick was announced as CEO of the company as well as Pincus' step down to Chief Product Officer.
Following is the how Pincus starts his letter to the company, cutting right to the chase and then capitalizing oddly chosen words:
"Today is a big day. I’m excited to announce that Don Mattrick will be joining us as Zynga’s new CEO and member of our Board. I wanted to let you all know why I made the decision to recruit Don and what I think it means for all of us.
Over the last few months I’ve spent a lot of time thinking about all that we have achieved together as a company. We have pioneered social gaming and helped make Play a core part of millions of people’s lives. But Zynga has so much more potential ahead, the opportunity to be an Internet Treasure and deliver on our mission of connecting the world through games."
Say what you will, but Pincus has an eye for business. After the rumors broke earlier Zynga's stock rose 10% almost instantly. Pincus' announcement comes almost as a reaction to the rising stocks, hoping either to either encourage the growth or in order to prevent it from falling later. Meanwhile, Microsoft's stock dropped half a point today. I mean, hell, they still haven't even announced his departure yet.
There's really no negative aspect to this decision in Zynga's mind. They're in a bad spot right now and Mattrick has a proven record for bringing companies back into profit and beyond. On Microsoft's side, it's rather astonishing how poorly this whole thing has been done. Mattrick was the veritable face of the Xbox One up to now. Considering the sudden turn around on DRM issues and now his departure -- never mind the games, what's up with the business?
Stay tuned for more information on Zynga's hiring of Don Mattrick as CEO as we hear about it.