CEO of Zynga, Mark Pincus, stated in a public email today that they confirm John Schappert’s resignation from his position as the COO of the company, as well as his
position on the Board of Directors. This isn’t too surprising, as Zynga recently went through a corporate restructuring in which Schappert lost oversight of game development for Zynga. After the restructuring, the heads of mobile and game development (David Ko and Steve Chiang, respectively) began reporting directly to Mark Pincus instead of Schappert, as they had previously.
Reportedly, the restructuring of Zynga came about as a result of being unable to combat their falling stock prices, which closed today at $2.95 a share. Mr. Pincus made a point of recognizing John Schappert’s contributions to the company and industry as a whole. He also noted that: “John leaves as a friend of the company and we wish him all the best.”