Zynga's Pincus cuts salary to $1

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.

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Latest comments (11)

John Pickford Owner, Zee 34 years ago
Check out Steve Jobs over there.
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Joshua Rose Executive Producer / Lead Designer, Storm Eagle Studios4 years ago
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.
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Christopher McCraken CEO/Production Director, Double Cluepon Software4 years ago
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.
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Show all comments (11)
Joshua Rose Executive Producer / Lead Designer, Storm Eagle Studios4 years ago
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.
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Ben Furneaux Principal Designer 4 years ago
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...
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Martin Klima Executive Producer, Warhorse Studios4 years ago
How could anybody who does not have a billion dollars get on list of billionaires?
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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

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@Joshua Rose

I take it you are unfamiliar with Zynga's history.
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Christopher Bowen Editor in Chief, Gaming Bus4 years ago
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.
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Greg Wilcox Creator, Destroy All Fanboys! 4 years ago
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)...
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Robin Clarke Producer, AppyNation Ltd4 years ago
He's not copying Jobs, he's putting his own twist on the established CEO genre.
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