SAN FRANCISCO, July 31 - Part of restructuring involves causing some heads to roll, in Zynga's case that means axing top execs - three to be exact in the form of VP John Osvald, Casino Division VP Jesse Janosov, and VP Nathan Etter, reported Bloomberg yesterday.
Triggering this restructuring was the recruitment of Xbox One's former head, Don Mattrick, as Zynga's new CEO earlier this month. Mattrick has set a goal for the social games firm to earn $40m over the next three years.
last week's second quarter announcements reported a loss of $15.8m, with dialy users falling 45 percent in the last year.
"Getting a business back on track isn’t easy and isn’t quick," said Mattrick in response to company's financials. "We have a lot of hard work in front of us but I believe we can succeed as a team and Zynga can do this."
"There‘s no denying we’re not where we want to be. We’ve not met our investors’ expectations, we’ve not met our own expectations, and most importantly, we’ve not met our players’ expectations."
"But there’s also no denying that we have what it takes to get back to winning."
SOURCE: Bloomberg
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