Our Founder and CEO Mark Pincus today sent a note to employees outlining some important changes to the responsibilities of our senior team. Please find his note, posted in its entirety below.
Today we’re announcing some important changes to the responsibilities of our senior team.
David Ko has been named chief operations officer. In his new role, he will oversee strategy planning, international, infrastructure and operations of the company. Since joining us in 2010, we’ve all seen Dave scale our mobile organization, grow our portfolio by 25 new games and help unite game development teams on our cross platform efforts.
Barry Cottle has been named our chief revenue officer and will be responsible for corporate and business development, distribution, strategic partnerships, advertising sales and operations, publishing and real money gaming. Barry is a seasoned leader having built and scaled businesses for Palm, The Walt Disney Company and Electronic Arts.
Steve Chiang has been named our president of games where he will oversee all games and new IP development across web and mobile and unite all of our game teams under one leader. We’ve all seen Steve guide the game development of Bubble Safari, ChefVille and FarmVille2 among others. He has more than 20 years of experience in the game industry building AAA titles and teams.
I also wanted to let you know that our CFO, Dave Wehner is leaving to accept a senior position with Facebook.
Dave provided great leadership to our financial team over the past two years, helping guide the company’s transition from startup through IPO. Dave has been a great partner for me, the senior team and the whole company. He remains a good friend to us all and we wish him success in his next endeavor.
Mark Vranesh has been named our chief financial officer. This is a role he knows well – he was our CFO during our rapid growth as a private company. As CFO, Mark built and ran our finance, accounting and controls functions and transitioned to the role of chief accounting officer in 2010.
These changes come at an important time. We are positioning ourselves for long-term growth and I’m confident that we have the breadth and depth of management talent to deliver on our mission of connecting the world through games. We are also today reaffirming our 2012 financial outlook that we communicated on October 24, 2012.
With some of our recent game success and the great work that’s being done to move with our players to mobile, we’re making progress. We still have a lot of work to do, but it’s been great to see so many of you step forward to put us on the move again.
Please join me in congratulating David, Barry, Steve and Mark on their new roles.
This blog posting contains, or incorporates by reference, forward-looking statements relating to, among other things, our outlook for full year 2012 bookings, adjusted EBITDA, stock-based expense, capital expenditures, effective tax rate, non-GAAP weighted average diluted shares and non-GAAP EPS; our efforts to position the company for long-term growth; and our future operational plans. Forward-looking statements often include words such as “outlook,” “projected,” “intends,” “will,” “anticipate,” “believe,” “expect,” and statements in the future tense are generally forward-looking statements. The achievement or success of the matters covered by such forward-looking statements involves 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, our relationship with Facebook or changes in the Facebook platform or to our agreements with Facebook, our ability to launch new games in a timely manner and monetize these games effectively, our ability to control and reduce expenses, 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 our corporate strategy or management.
More information about factors that could affect our operating results is included under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Quarterly Report on Form 10-Q for the three months ended September 30, 2012, in our registration statement on Form S-1, as amended, filed with the Securities and Exchange Commission (“SEC”) on March 23, 2012 and in our Annual Report on Form 10-K for the year ended December 31, 2011, copies of which may be obtained by visiting our Investor Relations web site 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 blog posting, which are based on information available to us on the date hereof. There is no guarantee that the circumstances described in our forward-looking statements will occur. We assume no obligation to update such statements. Please also see our discussion regarding non-GAAP financial measures, including with respect to our 2012 outlook, in our press release issued on October 24, 2012.