As social games developer Zynga announced a 2014 first-quarter loss of $61m, company founder Mark Pincus was preparing to take a step back from the day-to-day running of the business.
The loss compares with a profit of $4m for the same period last year and follows a $25m loss for Q4 2013. Revenues also fell, by 36 per cent to $168m.
Pincus leaves his role as chief product officer but retains his position as chairman of the board, having stepped down as CEO in July 2013.
Don Mattrick, Pincus’s successor as CEO, said of the move: “Over the past 10 months, I have found his partnership to be intellectually rewarding and I am deeply grateful for the opportunity to continue building out his vision.”
