Zynga Makes Major Executive Changes as CFO Heads to Facebook

By Devon Glenn 

Zynga has announced a complete overhaul of its senior team. Current CFO Dave Wehner has resigned in order to accept a new position at Facebook.

“Dave provided great leadership to our financial team over the past two years, helping guide the company’s transition from startup through IPO,” said Zynga founder and CEO Mark Pincus in a statement. “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.”

His successor, Mark Vranesh (right), had served as CFO during a period that Pincus described as Zynga’s “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,” he said. In his new role, Vranesh will serve as both as chief financial officer and chief accounting officer.

The company has also appointed David Ko as chief operations officer, Barry Cottle as chief revenue officer, and Steven Chiang as president of games.

The news follows a rough quarter for the social games company, which reported a 3 percent increase in revenue to $317 million, but an 11 percent decline in bookings (which defer virtual goods sales to a later date) to $256 million compared to Q3 2011, and a net income loss of $52.7 million.

Added Pincus, “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.”