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Zynga CEO to earn over $57 million this year

Zynga CEO to earn over $57 million this year

Fri 13 Jun 2014 4:25pm GMT / 12:25pm EDT / 9:25am PDT
BusinessPeople

Don Mattrick is the second-highest paid CEO of all the companies in the Bay Area

Zynga's shares have been trading down 21 percent in the last six months, but as noted by CNBC, that didn't seem to have any impact on the company's board approving a very lucrative package for CEO Don Mattrick. The executive's pay this year is worth $57,814,391, and that makes Mattrick the second-highest paid CEO in the entire Bay Area behind Oracle boss Larry Ellison.

While Zynga has had a hard time catching up in the mobile space, and Mattrick admitted recently that his company left the "lunchbox unattended" for rival Supercell, the chief executive has made a ton of changes to the management team since he was brought on board to replace Mark Pincus in day-to-day responsibilities. With the departures earlier this month of Travis Boatman, Terence Fung and Steven Chiang, Pincus has now essentially remade the entire team underneath him. He also oversaw the much praised acquisition of the talented developer NaturalMotion (CSR Racing, Clumsy Ninja), which should give Zynga a leg up in the mobile space going forward.

Zynga still has plenty of critics, and for good reason. While the company's market cap is $2.8 billion, Zynga unfortunately has reported falling revenue for several quarters now. And despite the NaturalMotion buyout, it'll be some time before Zynga can level the playing field with companies like Supercell.

"Zynga is behind the curve on mobile, and they've got a long way to go before they catch up to King Digital, Supercell or even Electronic Arts mobile efforts. The company is betting big on the FarmVille 2 mobile game, but it hasn't been a home run," commented Adam Krejcik, managing director at Eilers Research.

6 Comments

Steve Wetz
Reviewer/Assistant Editor

213 529 2.5
Popular Comment
If I was a Zynga shareholder (and I'm not, because I like money) I would be pretty upset about this. As it is I am not wholly surprised. Zynga has already shown itself to be a company which runs itself very poorly - deciding to overpay its chief executive for diving stock prices (particularly in the last few months) seems par for the course.

Posted:3 months ago

#1

Andrew Goodchild
Studying development

1,243 401 0.3
If in a few years he turned the company back around, and was rewarded as such, that might make sense. At the moment the only visible results are hyperbole about how amazing Zynga will be when he's finished.

Of course, if most of it is stock and stock options, it may be worth considerably less soon if they don't pull something out of the hat. Maybe he can work some of that magic he demonstrated with his handling of the original Xbone strategy.

Posted:3 months ago

#2

Richard Gardner
Artist

123 32 0.3
I find it shocking and difficult to comprehend just how and why someone can be paid that amount of money in a single year.

Posted:3 months ago

#3

Aleksi Ranta
Product Manager - Hardware

273 127 0.5
@Richard Indeed, what happened to pay being related to services rendered and not like it is today "for services and value you might render to company x in the future (and if for some reason all goes to shit, you will still be paid an insane amount of money + we will ofcourse thank you for your efforts with an extra injection of an insane pile of money AND we will let you go with a public thank you as a bonus)

Posted:3 months ago

#4
I am not sure what Zynga even do these days

Posted:3 months ago

#5

Raymond Goldsmith
Chairman & CEO

7 1 0.1
They don't pay people anymore by delivering profit and results, it's all based on ego !!!
And on that score CEO Mattrick isn't paid nearly enough !!

Posted:2 months ago

#6

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