Zynga CFO Leaving for Facebook
Zynga, the beleaguered company behind some very popular social games played on mobile devices, is losing its CFO, David Wehner, who will join Facebook, a company that works closely with Zynga.
Zynga said Tuesday that Wehner will be replaced by Mark Vranesh, the company’s top accounting executive. Vranesh is no stranger to the CFO position, as it was his title at Zynga for two years ending in August 2010.
The move coincides with a management shakeup that includes chief mobile officer David Ko being promoted to COO.
Also, Barry Cottle and Steven Chiang, both of whom held the title of executive vp, were made chief revenue officer and president of games, respectively.
Zynga, which makes Words With Friends, CityVille, Draw Something and dozens more games that are played on iPods, mobile phones and tablet devices, has seen its stock tumble 85 percent in eight months. On Tuesday, Zynga shares rose a penny to $2.11 and were up another 2 cents after the closing bell.
"Mark, Dave, Barry and Steve are rooted in our culture, committed to our future and part of the talented bench of leadership at Zynga," said CEO and founder Mark Pincus.