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September 24, 2020

Founder Mark Pincus will return to the role of Chief Executive Officer

Zynga confirms retention agreements amid executive exits

Zynga confirms retention agreements amid executive exits
Social gaming company Zynga has reportedly entered into retention agreements with two of its executives following the recent departure of several members of its senior management team.
United Kingdom | 04/29/2015

Social gaming company Zynga has reportedly entered into retention agreements with two of its executives following the recent departure of several members of its senior management team.

A

s reported, Don Mattrick earlier this month stood down as chief executive officer of the company, while Zynga confirmed last week that Clive Downie had also opted to resign from his role as chief operating officer.

Founder Mark Pincus will now return to the role that he held prior to Mattrick’s appointment in July 2013, while Downie, who is yet to be replaced, is said to have taken on the position of chief marketing officer at Unity Technologies.

In response to the high-profile exits, Zynga has entered into retention agreements with general counsel and vice-president Devang Shah, as well as financing and accounting chief David Lee.

Under the agreements, both Shah and Lee will receive six months of their base salary and target bonus, as well as an additional six months’ vesting of equity awards, if their contracts are terminated without cause or choose to leave the company for “good reason”.

 

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