Zynga taps former Best Buy exec for CFO
Zynga, the social game developer of Farmville fame, announced Thursday the appointment of former Best Buy executive David Lee as chief financial officer, replacing current CFO and CAO Mark Vranesh, who has decided to leave the company.
Lee, 42, most recently served as SVP of enterprise finance for electronics retail giant Best Buy, and prior to that spent more than eight years at Del Monte Foods where he held several leadership positions across finance and general management.
The shakeup comes at a time when Zynga is shuffling its executive team and trimming staff in a bid to return to growth and profitability. Zynga's co-founder Justin Waldron left the company last October, and just prior to that in June the company laid off approximately 520 employees.
According to Don Mattrick, CEO of Zynga:
I am pleased with the progress we have made so far this year against our strategic frame of growing and sustaining our franchises, creating new hits and driving efficiencies. The year is off to a solid start and our teams have created a strong base for growth throughout 2014. We look forward to sharing details about our results and financial performance during our upcoming first quarter earnings announcement.
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