Zynga Taps Xbox Chief as CEO

Stock up 10 percent by end of Monday

Zynga wowed the gaming and greater media worlds by nabbing top Xbox executive Don Mattrick to become the beleaguered company's new CEO on Monday.

With Mattrick's hire, Zynga founder Mark Pincus will relinquish CEO duties, but will stay on as both chairman of the board of directors and chief product officer. The news was first reported by Allthingsd.com.

In a blog posting on Monday, Mattrick, formerly Microsoft's president, interactive entertainment business, said he joined Zynga because "I believe that Mark’s pioneering vision and mission to connect the world through games is just getting started."

What's shocking about Mattrick's hire is that many in the gaming world might have said that Zynga is closer to being finished.

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