Wednesday, November 14, 2012

Zynga Inc (NASDAQ:ZNGA) CFO joins Facebook Inc (NASDAQ:FB)

Games developer Zynga Inc(NASDAQ:ZNGA) and social networking site Facebook Inc(NASDAQ:FB) are allies and partners, but that doesn’t stop the companies from poaching talent from each other.

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Zynga's finance head David Wehner left the company to join Facebook, leaving a vacancy that was immediately filled by the game developer by promoting Mark Vranesh to the slot.

Zynga also announced some major movements and rejigging at the top slots. Chief mobile officer David Ko is now chief operations officer; executive vice president, business and corporate development Barry Cottle has been named chief revenue officer; and executive vice president of games Steven Chiang has moved up to president of games.

The company has been facing a lot of exits earlier this year ever since its share prices have been on a downward trend. Some of the high profile exits this year have been chief operating officer John Schappert, chief creative officer Mike Verdu, chief technology officer Allan Leinwand, chief marketing officer and chief revenue officer Jeff Karp, and chief security officer Nils Puhlmann.

Vranesh, who replaced Wehner, had been Zynga Chief Finance Officer from 2008 to 2010, when he became chief accounting officer.

Before joining Zynga he had been vice-president of finance and administration and corporate controller at Fortinet Inc.

Zynga's Chief Executive and founder Mark Pincus, told employees in an email - “Dave provided great leadership to our financial team over the past two years, helping guide the company’s transition from startup through IPO,” he wrote of Wehner’s departure. “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 endeavour.”

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