Zynga COO Schappert resigns
Social gaming company Zynga revealed that chief operating officer John Schappert had resigned, a move that had been foreshadowed by a series of management shakeups. The resignation did not arise from 'any disagreement with the Company on any matter relating to the company's operations, policies or practices,' , the company said in a regulatory filing.
"John has made significant contributions to the games industry throughout his career and we appreciate all that he has done for Zynga," Pincus said on Wednesday in a statement. "John leaves as a friend of the company and we wish him all the best."
Zynga reported a net loss for its second quarter in late July and cut its full-year earnings per share forecast, news that sent shares down roughly 40 percent and attracted a wave of shareholder lawsuits accusing the company of misguiding investors.
The departure is being seen by some financial analysts as a 'red flag' for the gaming company, especially so shortly after its IPO which proved to be chaotic, with prices not reaching the expected targets. How this turbulence affects the companies plans to introduce its real money poker application in early 2013 remains to be seen.