Xbox chief Don Mattrick heading for top position at Zynga, sources say (update)

By on July 1, 2013, 12:49 PM
microsoft, xbox, zynga, social gaming, don mattrick, mark pincus

Update: It's official, Zynga has confirmed that Don Mattrick will become the company's new CEO.

Multiple sources close to the situation claim the president of Microsoft’s Interactive Entertainment Business Don Mattrick will soon be leaving the company to take a leading role at Zynga. We’re hearing that Mattrick could become the company’s new CEO where he would work closely alongside current Zynga chief Mark Pincus.

The executive is currently in charge of all things gaming and entertainment including the Xbox platform but the decision could be made public as soon as today.

The hire would be good news for Zynga as evident by the company’s stock which shot up nearly 11 percent once this story broke. The once dominant social gaming company has struggled since their initial public offering back in December 2011 as Pincus continues to try and redirect the company toward mobile.

The Facebook / web browser cash cow that brought Zynga to prominence has all but dried up, leading to a drop in stock value of 68 percent since the IPO. To further complicate matters, Zynga initiated a massive restructure early last month that saw 20 percent of the company’s workforce lose their jobs. Pincus noted at the time it was a proactive decision that had to be done to continue their mission of connecting the world through games.

Mattrick is a hot commodity as of late as his name has also recently been associated with a possible takeover of Electronic Arts, another company that has faced some tough times as of late. Where he ultimately ends up is still up in the air at this hour but sources seem to strongly indicate it will be Zynga.

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