Zynga CFO Jumps Ship for Facebook
The troubles at Zynga seem to be never ending. First, their Chief Creative Officer Mike Verdu left to start up his own venture. Now Zynga's Chief Financial Officer David Wehner has departed for greener pastures as well and will be taking up the reins at Facebook with the title Vice President of Corporate Finance and Business Planning.
David Wehner was one of the people who engineered Zynga's IPO which started off as a price of US$10 per share and valued the company at a total of US$8.9 billion. As Zynga's CFO, he must surely have also had a major part in their acquisition of Draw Something for US$200 million.
At Zynga, founder and CEO Mark Pincus is overseeing sweeping changes in the upper echelons of management. David Ko has been promoted from within the ranks to the position of Chief Operating Officer and Zynga is also looking for a Chief Marketing Officer.
There exists extreme synergy between Zynga and Facebook. The former utilizes the latter as the premier publishing platform for their social games. At the same time Facebook counts on Zynga for revenue.
Source: The Economic Times