Zynga Names David Lee as Chief Financial Officer and Chief Accounting Officer
April 10 2014 - 4:04PM
Zynga Inc. (Nasdaq:ZNGA), a leading social game developer, today
announced that the Company has appointed David Lee as Chief
Financial Officer and Chief Accounting Officer effective April 14,
2014. Lee will oversee accounting, corporate finance and investor
relations and will report directly to Chief Executive Officer Don
Mattrick. Lee succeeds CFO and CAO Mark Vranesh who will be leaving
the company. Lee will be working with Vranesh over the next month
to ensure a seamless transition of responsibilities.
A photo accompanying this release is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=24707
"At the end of 2013, Mark Vranesh and I began working together
on a CFO search. We viewed a lot of candidates, had a high bar and
found a leader in David who will be a great addition to our team,"
said Don Mattrick, CEO of Zynga. "David has a deep understanding of
business management and a sharp financial acumen that will be
invaluable to Zynga's long term growth and success. He has a track
record of fostering cultures of excellence and navigating business
transformations through sound counsel and strategic planning. David
is a seasoned financial executive whose two decades of experience
will deepen our leadership capabilities and I am proud to welcome
him to Zynga. I want to thank Mark for his numerous contributions
to the Company over the last six years and we wish him the best in
his future endeavors."
"I am pleased with the progress we have made so far this year
against our strategic frame of growing and sustaining our
franchises, creating new hits and driving efficiencies. The year is
off to a solid start and our teams have created a strong base for
growth throughout 2014. We look forward to sharing details about
our results and financial performance during our upcoming first
quarter earnings announcement," said Mattrick.
Lee, 42, brings to Zynga two decades of experience in finance,
general management, strategic planning, growth investing, corporate
restructuring and business transformations. He has a track record
of helping turn companies around, and a proven ability to make
smart decisions that ensure sustained financial success for
corporations.
"It is an honor to join Zynga during such a transformative time
in the Company's history. Zynga reached impressive milestones in
its first phase of growth, entertaining more than one billion
people with its games and creating iconic, household brands with
franchises like FarmVille and Words With Friends," said Lee. "Don
and the leadership team have an ambitious vision anchored by a rich
culture of innovation, and I look forward to working with them to
build the next chapter of Zynga's growth."
Lee most recently served as Senior Vice President of Enterprise
Finance for Best Buy, where he was responsible for leading the
company's corporate strategy, financial planning and analysis and
treasury teams. Before joining Best Buy, Lee spent more than eight
years at Del Monte Foods where he held several leadership positions
across finance and general management including Senior Vice
President of Strategy, where he oversaw corporate strategy, mergers
and acquisitions, transformation and corporate affairs; Senior Vice
President of Consumer Products, Vice President of Strategic
Planning and Business Development, Vice President of Finance for
Consumer Products and Vice President of Sales FP&A. During this
time, Del Monte Foods rapidly transformed and ultimately delivered
significant shareholder value to its public investors in the sale
of the company to private equity.
Before Del Monte Foods, Lee served as the Director of Strategic
Planning at PG&E Corporation for three years, where he helped
lead the company's successful corporate restructuring and
turnaround out of bankruptcy. He also spent time creating and
implementing consumer growth plans at the Leo Burnett Company,
McKinsey & Company, Enterprise Venture Capital and Pacific
Venture Capital.
The Company will provide Q1 financial results during its
upcoming earnings announcement on April 23, 2014.
About Zynga Inc.
Zynga Inc. is a leading developer of the world's most popular
social games that are played by more than 100 million monthly
consumers. The company has created evergreen franchises such as
FarmVille, Zynga Casino and Words With Friends. Zynga's
NaturalMotion, an Oxford-based mobile game and technology
developer, is the creator of hit mobile games in popular
entertainment categories, including CSR Racing, CSR Classics and
Clumsy Ninja. Zynga games have been played by more than 1 billion
people around the world and are available on a number of global
platforms including Apple iOS, Google Android, Facebook and
Zynga.com. The company is headquartered in San Francisco, Calif.
Learn more about Zynga at http://blog.zynga.com or follow us on
Twitter and Facebook.
The Zynga Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=11743
Forward-Looking Statements
This press release contains forward-looking statements relating
to, among other things, the appointment of David Lee as our new
Chief Financial Officer and Chief Accounting Officer, our potential
future growth and success, progress on executing our strategy and
our upcoming earnings announcement. These forward-looking
statements are subject to a number of risks, uncertainties and
assumptions. Our actual results could differ materially from those
predicted or implied, and reported results should not be considered
as an indication of our future performance. Factors that could
cause or contribute to such differences include, but are not
limited to, the integration of NaturalMotion and the success of its
current and future games as part of Zynga, our relationship with
Facebook or changes in the Facebook platform, our
relationship with and/or agreements with Android and iOS platform
providers and/or changes to the Android or iOS platforms, attrition
and declines in our existing games, our ability to launch new
games, including FarmVille 2: Country Escape, in a timely manner
and monetize these games effectively on the web and on mobile, our
ability to control and reduce expenses, our exposure to
illegitimate credit card activity and other security risks, our
ability to anticipate and address technical challenges that may
arise, competition, the changing interests of players, intellectual
property disputes or other litigation, asset impairment charges,
our ability to retain key employees, acquisitions by us and changes
in corporate strategy or management. More information about the
risks Zynga faces is included in our quarterly and annual
reports filed with the SEC, copies of which may be obtained
at http://investor.zynga.com or the SEC's web site
at www.sec.gov. Undue reliance should not be placed on the
forward-looking statements in this release. There is no
guarantee that the circumstances described in our forward-looking
statements will occur. We assume no obligation to update such
statements.
The photo is also available at Newscom, www.newscom.com, and via
AP PhotoExpress.
CONTACT: Dani Dudeck
(415) 646-3133
dani@zynga.com
Kelly Pakula
(415) 254-4462
kpakula@zynga.com
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