Zynga appoints new chief executive

<p>A new chief executive is in place at Zynga.</p>

Social gaming company Zynga has confirmed the appointment of a new chief executive.

Mark Pincus, the company's founder and current chief executive officer, is moving aside to become chairman and chief product officer.

Don Mattrick, former head of interactive entertainment at Microsoft, is set to replace him as chief executive of Zynga. The company is behind games such as Words With Friends.

"Zynga is a great business that has yet to realize its full potential," said Mr Mattrick in an email to employees.

Mr Mattrick also previously worked on hugely popular titles such as The Sims and the FIFA series for Electronic Arts.

Shares in Zynga are down by around 50 per cent for the year so far but are expected to rise on the back of the news of the change in leadership.

When the Nasdaq index opens later in the day, Zynga stocks will be trading at 3.07.

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