Zynga’s Pincus returns to CEO role on $1 salary

Less than two months on from an earnings release that showed Zynga’s losses for 2014 surpassed the $225m mark, the company’s founder and former chief executive Mark Pincus is set to return in the hope that he might instruct a quick-fire – albeit necessarily quick-fire – turnaround. Best known as the creator of once-popular Facebook games such as Farmville and Words with Friends, the provider of social games services has struggled to replicate its success and get to grips with the mobile market.

[T]he provider of social games services has struggled to replicate its success and get to grips with the mobile market

“Don joined us in a very important time in our evolution. I sincerely thank him for his leadership in better serving our players in a mobile first world and for delivering world class quality and value to our consumers,” said Mark Pincus of Don Mattrick’s time at the company, in a statement. “Now that we are a mobile first company, it’s time to renew our focus on our founding mission to connect the world through games and our vision to make play and social games a mass market activity.”

The company previously stated that its focus in 2015 would fall on driving mobile growth, launching more products and building its social legacy. However, Zynga’s financial results have failed to impress investors, and in a climate where growth in mobile and apps is critical, the San Francisco-based company has struggled to remain relevant.

At his request, Pincus will receive an annual salary of $1. The returning chief executive will be hoping he can pioneer a new line of smash hit titles and, in doing so, boost Zynga’s dwindling share price, which was down 10 percent after hours on the news of his appointment. Pincus’ first spell in the top spot didn’t exactly bowl over investors, though he maintains that his two years away from the role have allowed him to reassess the company’s priorities.