Just in time to ruin Zynga CEO Mark Pincus’ Christmas, Businessweek has ranked him as one of the worst CEOs this year. The company, masters of Farmville, have seen their stock drop by a staggering 75% and continue to lose many talented employees.
Sydney Finkelstein, who Businessweek went to for his vast amount of Business knowledge, stated that Pincus has made ‘some rookie mistakes’, despite his Bachelor’s Degree in Economics and his MBA from Harvard. One example in particular was Zynga’s close ties to Facebook and how the company depends on them for a huge amount of revenue. Pincus later moving 16 Million shares didn’t come across as a good sign either.
I kinda feel bad for the guy and, to an extent, Zynga. Especially after hearing that the man has been ‘near tears’. Say what you will about Zynga, but can we at least hope that Pincus finds a way to turn this mess around? And for the better?
[Source: Businessweek]