NEW YORK, July 2 - Cowen analysts are skeptical of how former Microsoft Entertainment head Don Mattrick will fair as Zynga's new CEO, reports Gamasutra. The
announcement of Mattrick's recruitment, which came yesterday, also stated that although Mattrick will be replacing Zynga founder and outgoing CEO Mark Pincus, Pincus will remain as Chairman and CPO. The former CEO will also retain the controlling voting stake in the company, something Cowen's Doug Creutz says may limit the amount of "operating room Mattrick" will have.
"As [Mattrick] is a console veteran, we are not sure how much Mattrick's experience will benefit Zynga," Creutz said. "Zynga [is] a business in desperate need of a radical turnaround, while competitors such as King, Kabam, Supercell, and even EA (where we would have been much less surprised to see Mattrick land) are busy pushing ahead rapidly on mobile platforms."
Cowen reduced its non-GAAP revenue estimate for Zynga for the 2013 fiscal year from $809m to $782m in response to yesterday's news.
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