FarmVile maker Zynga CBO steps down, becomes adviser ahead of IPO
The website found out the news in Zynga's new filing with the Security and Exchanges Commission. According to AllThingsD, Van Natta came to Zynga founder and CEO Mark Pincus years ago to help him grow the company. Now, the former exec will relegate himself to the board and help the company with major partnerships. "Owen is a valuable business partner," Pincus confirmed to AllThingsD. "He's made great contributions to Zynga and continues to be an important part of our team."
However, Van Natta will have to surrender millions in pre-IPO shares as a result of the move. But AllThingsD reports that this move is not connected to the stock-related debacle reported by The Wall Street Journal recently. Recent hire and former EA exec John Schappert will now assume full command over the business end of Zynga, according to VentureBeat.
Our take on this news is that Zynga is simply getting its ducks in a row before supposedly going public after Thanksgiving, removing redundancies in its lineup of high-level execs. You know, the same IPO that AllThingsD guesses will bring Zynga close to $20 billion? Van Natta or not, it's going to be very merry Christmas.
Do you think Van Natta's shift will affect the company at all as it approaches its IPO? If given the opportunity, would you invest in Zynga? Sound off in the comments. Add Comment.