Zynga Pays Millions To New CEO For Leaving Microsoft


Zynga Pays Millions To New CEO For Leaving Microsoft

Bangalore: Don Mattrick, who left Microsoft’s entertainment division to head the social gaming Giant Zynga, was apparently offered millions to take up his new position, reports Reuters.

Mattrick will reportedly receive compensation package, including stocks with a combined value averaged at $50 million. The base salary as a CEO would be $1 million in the first year, and a sign-on bonus of $5 million plus a 2013 bonus of $2 million.

Mattrick will also get 9 million restricted stock units, as a compensation for shares he lost while leaving Microsoft. The value of these shares is currently valued over $30 million. If the company is satisfied with his performance, he will be eligible for grants of new stocks with a value of $7 million next year.

Since the announcement of new CEO, Zynga’s shares rose as high as 11 percent, which closed at $3.42 on Nasdaq yesterday.

The man credited for making Microsoft’s Xbox business profitable, will surely have a tough time giving life to Zynga. However, Mattrick comes with the experience of heading successful franchisees like FIFA, during his 15 year long tenure with Electronic Arts, the video game publisher.