Zynga Inc (NASDAQ: ZNGA)’s, vice President Roy Sehgal and a general manager, Mr. Steve Schreck resigned from their current job responsibilities. Zynga Inc (NASDAQ:ZNGA) the social game maker company shows its inability in keeping the top level managers. Its share price starts declining.
Mr. Roy Sehgal, joined the company in 2009 and Mr. Schreck, now departing from their work. Sehgal is resigning to take an off-time where as Mr. Schreck to join a new company founded by Mr. Mike Verdu, an alumnus of Zynga Inc (NASDAQ: ZNGA).
In the current month more than half a dozen of top level staffs left their positions. The news creates an air of fear among the investors and the share price decreased by 75% as the company reduced its equity value to indemnify staffs. It follows staffing and cost reduction in order to make the company survive.
Schreck, who joined a new start up mobile game company of Verdu, the former chief creative officer in Zynga Inc (NASDAQ:ZNGA) now need an approval from Zynga Inc (NASDAQ:ZNGA) to join a new job at some other place.
According to the data shown by the Linkedin Corporation (NYSE:LNKD), Schreck had managed Zynga Inc (NASDAQ:ZNGA)’s recent game named “Hidden Chronicles” with a team of almost 100 people working for the same.
David Wehner, recently left the job from the position of chief financial officer of as he got an offer from Facebook Inc (NASDAQ:FB).
Mike Gupta, the former treasurer did the same when got a position at twitter inc.
On Nov 29, Zynga Inc (NASDAQ:ZNGA) doubted about its long term relationship with Facebook Inc (NASDAQ:FB) as it gives the former a competition by doing some unethical activities of thrive over the social network.
Facebook Inc (NASDAQ:FB) is up by 2.49% to close at 28.00 USD.
Linkedin Corporation (NYSE:LNKD) is up by 0.96% to close at 108.14 USD.
Zynga Inc (NASDAQ:ZNGA) is down by 6.11% to close at 2.46 USD.