Zynga (ZNGA) Founder Returns As CEO

Zynga, Inc. (ZNGA) shares are halted following news that current CEO Don Mattrick will depart the company and the Board effective April 8, 2015. The company said Mark Pincus, Zynga’s founder and chairman, will return to the role of Chief Executive Officer. At his request, Pincus will receive an annual salary of $1 in connection with his appointment to CEO.

During today’s trading session, Zynga, Inc. printed a higher than average trading volume with the issue trading 16.44 million shares, compared to the average volume of 16.02 million. The stock began trading this morning at $2.82 to finish the session up 0.10 or 3.39% from the prior days close of $2.80. On an intraday basis it got as low as $2.81 and as high as $2.90.

ZNGA’s shares have advanced 10.24% in the last 4 weeks and 3.32% in the past three months. Over the past 5 trading sessions the stock has gained 0.72%. Shares of Zynga, Inc. are up 5.26% this year.

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