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Zynga's Pincus cuts salary to $1

Zynga's Pincus cuts salary to $1

Fri 05 Apr 2013 7:23am GMT / 3:23am EDT / 12:23am PDT
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But the rest of Zynga's exec team could earn $2m each in 2013

Zynga founder and CEO Mark Pincus has slashed his annual salary to $1 and asked to be exempt from the company's bonus program and equity awards.

Pincus' self-imposed pay-cut arrives after a difficult 12 months for Zynga, in which it has lost talent, players and market value. Zynga has made significant layoffs in recent months, and while no explicit reason was given for Pincus' $1 salary, it arrives at a time when cost-cutting measures are being made right across the company.

However, according to the SEC filing, Zynga's other executives won't suffer any such penalties. Pincus aside, the Zynga executive team earns either $425,000 or $500,000 per year, with additional performance-related bonuses equivalent to 100 per cent of their annual salary and a further payout of around $1 million.

The Bloomberg Billionaires Index puts Pincus' net worth at $800 million.

13 Comments

John Pickford Owner, Zee 3

46 152 3.3
Check out Steve Jobs over there.

Posted:A year ago

#1

Joshua Rose Executive Producer / Lead Designer, Storm Eagle Studios

191 81 0.4
I was just thinking the same thing as I read the headline.

Maybe if he cut every exec's salary to $1 and made their salary based on a percentage of overall sales, they'd have more of an incentive to not screw up.

Posted:A year ago

#2

Christopher McCraken CEO/Production Director, Double Cluepon Software

111 257 2.3
Ditto here. Jobs at least was creative, and made things. Pincus is a hack, who is the master of the pump, dump, re-acquire and sell off scheme. He's done it before, one need only look at his past history.

Zynga has been dying from the same heart attack for the last 2 years.

Posted:A year ago

#3

Joshua Rose Executive Producer / Lead Designer, Storm Eagle Studios

191 81 0.4
I think Pincus went the route many new companies go post IPO.

He's traded his love of games and what made original Zynga games so popular, for a desire to appeal to stock holders constantly breathing down his neck.

Posted:A year ago

#4

Ben Furneaux Designer, Turbulenz Limited

116 55 0.5
Popular Comment
This story is being misreported. What actually happened was that his bank is full up. He hasn't checked-in for a while to empty it, so it's not accumulating any more cash. Such a cheapskate, he could just buy more money storage...

Posted:A year ago

#5

Martin Klima Executive Producer, Warhorse Studios

26 50 1.9
How could anybody who does not have a billion dollars get on list of billionaires?

Posted:A year ago

#6
Well thats generous of him... after working his employees to death, hyping his company to the stars and then selling out at top dollar while he left them holding lockouts on sale of their shares til after the tower of cards came crashing down.

I'd be a hell of a lot more impressed if he HADN'T made so much money on his part of this fiasco that he need never, ever earn another dollar in his life to live better then 90% of americans.

Edit: But, be it said, i have no sympathy for the suckers who paid him that in the IPO, either. The signs were all there for anyone paying attention that this was a lead zeppelin.

Edited 1 times. Last edit by Jeffrey Kesselman on 5th April 2013 6:44pm

Posted:A year ago

#7
@Joshua Rose

I take it you are unfamiliar with Zynga's history.

Posted:A year ago

#8

Christopher Bowen Editor in Chief, Gaming Bus

449 697 1.6
Pincus had a love of games? That's news.

Honestly, this is a shallow attempt at public PR. His stock options are what makes up his wealth, and even then, if Zynga collapses, he still has millions upon millions of dollars from his prior career as a VC. This is insignificant, as it was when Jobs lived.

Posted:A year ago

#9

Barrie Tingle Live Producer, Maxis

381 180 0.5
I seem to remember Google exec's did that a few years back.

Posted:A year ago

#10

Greg Wilcox Creator, Destroy All Fanboys!

2,193 1,170 0.5
Hmmm. Now he can run for mayor of New York City, I guess. Actual billionaire Bloomberg takes a buck a year too (and he's vastly overpaid, some would say)...

Posted:A year ago

#11

Robin Clarke Producer, AppyNation Ltd

321 748 2.3
He's not copying Jobs, he's putting his own twist on the established CEO genre.

Posted:A year ago

#12

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