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December 3, 2012

Two more executives exit from Zynga

Zynga has been facing exits of more than a half-dozen senior executives in recent months

By CBR Staff Writer

US based Social gaming firm Zynga’s vice president Roy Sehgal and general manager Steve Schreck are reported to have exited from the company, in a latest setback to the company amidst decline in stock-price.

Roy Sehgal, who has been working for the social gaming firm since 2009, is resigning to take a break, while Schreck is expected to join a game startup established by another Zynga alumnus, Mike Verdu.

Zynga has been facing top level exits in last few month with more than a half-dozen senior executives have bid adeu to the company amid the rising concern among investors regarding its ability to accelerate growth.

In a recent exit in November, Zynga’s finance chief David Wehner has left for Facebook, where he has been appointed as vice-president of corporate finance andbusiness planning.

The firm’s COO and director John Schappert had resigned in August 2012, while its chief marketing and revenue officer Jeff Karp and chief technical officer Allan Leinwand have left the firm in September 2012.

Recently, Facebook and Zynga have modified their developer agreement in a bid to allow the social network to build up its own games, and Zynga will no more have to feature Facebook ads and provide Facebook credits as a mode of payment.

Zynga is also planning to lay off is its full-time workforce by 5%, in addition to shutting down some of its studios.

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