Ever wonder why a CEO would leave an established and stable company like Microsoft over a declining company Zynga? Well, if you are to receive a $5 million signing bonus, $1 million salary, $25 million in restricted stock vesting over three years, and additional restricted shares and options valued at $15 million, would you not go for it?
This information about the new Zynga CEO’s compensation package was reported by Bloomberg.
Zynga is in serious help to revive the company soon which may have them decide to put it all in just to get someone with superb experience such as former-Microsoft CEO Don Mattrick. He had been with the technology giant since 2007. While he was with the company, Microsoft was able to launch gaming products including Xbox 360, Xbox Live, Xbox One, and Kinect.
CEO Mattrick is also eligible for a $5 million annual bonus and a performance increase worth $7 million by 2014.
CEO Mattrick officially joined Zynga on July 1 and had a lot of things to do. Zynga had been on an unstable situation since start of this year as most of the games they developed were shut down. It also had some layoffs in order to cut the cost and allocate it to other projects. Mattrick will be replacing Mark Pincus who will still be part of Zynga as a chairman of the board and chief product officer.
While CEO Mattrick is offered millions, Pincus on the other hand had lowered his salary to $1. When he was still CEO for Zynga, his compensation package was $1.68 million inclusive of the $3,750 bonus and $1.37 million in life insurance premiums.
Zynga may have made a good decision for getting Mattrick because since July 1, the company’s stock value had improved. Today, its valuation closed at $3.42, up by 4.59 percent from yesterday’s closing.
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