Zynga CFO leaves for Facebook

CFO of the gaming company that has produced the popular "Words with Friends" and "Ville" series of games, has made the move to Facebook.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SAN FRANCISCO - Zynga Inc's chief financial officer, David Wehner, will leave the company for a senior executive position at Facebook Inc, the troubled gaming company announced Tuesday as it reshuffled its management ranks.

The "CityVille" creator named David Ko, a top executive overseeing mobile games, as its new chief operations officer, a position that had been vacant since August when John Schappert stepped down after the company missed earnings expectations for two consecutive quarters and its stock price fell precipitously.

Wehner, who will become a vice president of corporate finance and business planning at Facebook, will report to CFO David Ebersman at the Menlo Park-based social networking company, which has close ties to Zynga.

Wehner's departure comes as CEO Mark Pincus seeks to stabilize his company's finances - and the tumult within his upper ranks. Last month, the company sharply revised its full-year outlook and began layoffs after warning that its revenues were slowing as gamers left its once-popular titles in droves.

As part of the shakeup, Mark Vranesh, Zynga's top accounting executive, will replace Wehner as CFO, while Steven Chiang was named to oversee all game development, the company said.

In addition, Barry Cottle, a business and corporate development executive, was named chief revenue officer.

"Mark, David, Barry and Steve are rooted in our culture, committed to our future and part of the talented bench of leadership at Zynga," CEO Mark Pincus said in a statement. "I'm confident we have the right team to deliver on our mission of connecting the world through games and position us for long-term growth."

Facebook said in a statement: "Dave's deep expertise in finance, strategy and corporate development will be a great addition to our team."

(Reporting By Gerry Shih)