Zynga Loses CMO Karp
Jeff Karp, Zynga's chief marketing and revenue officer, is the latest high-level executive to leave the embattled social games company. His resignation follows news earlier Monday that CTO of infrastructure Allan Leinwand was leaving Zynga to join cloud service company ServiceNow.
Other who have left the San Francisco company in recent weeks include COO John Schappert, Chief Creative Officer Mike Verdu, and Alan Patmore, general manager of “CityVille,” one of Zynga's best-known games.
In a statement released Monday, the company said:
“Jeff Karp is leaving Zynga, and the groups in his organization have been realigned under appropriate existing divisions. Our marketing and revenue teams have always been industry leaders, and as we continue our transition toward mobile and multiplatform game creation and distribution, their continued execution will be key to our future success.”
Karp joined Zynga only about a year ago from gaming powerhouse Electronic Arts, where he was head of revenue for EA's Games label. The recent downturn in Zynga's stock price is a likely a key factor in the recent exodus of top managers from the company. It shares closed Monday at $2.82 after hitting a high of $14.69 on March 2.
Zynga reported a second-quarter loss, with adjusted earnings and revenue below Wall Street's modest expectations. It lost $22.8 million during the quarter, down from $1.4 million in the year-earlier period. The announcement of Karp's departure comes just days after Zynga released “FarmVille 2,” the sequel to its hugely popular farming sim game.
Recent MAD SF Articles
-
Razorfish's Gelb Joins Mobile Startup MoPub Sept. 19, noon
Razorfish mobile lead Paul Gelb has left the agency to become head of strategy for San ... -
Adap.tv 'Planner' To Optimize Online Video Buys Sept. 19, noon
With billions of ad dollars at stake, online video networks are fighting hard for a bigger ... -
Dentsu, ADK To Market Flipboard Sept. 19, noon
As initially reported in OnlineMediaDaily on September 14, San Francisco-based Flipboard, the social magazine app, has ... -
Ad Firm Touts Results On Facebook Exchange Sept. 14, noon
Facebook in June announced plans to launch a real-time bidded (RTB) ad marketplace allowing advertisers to reach users ... -
Extole Going Cross-Country For First Ever Summit Sept. 14, noon
Extole, a San Francisco-based C2C social marketing platform company, this week announced its inaugural Social Advocacy ... -
StubHub CMO Ray Elia: We Are Not Just A Ticket Seller Sept. 14, noon
As initially reported in Marketing Daily on September 13, online ticket seller StubHub this year launched its ... -
Lyris Rebrands, Builds Out Digital ERP System To Process Data Sept. 12, noon
Emeryville-based Lyris unveiled a digital marketing platform Tuesday resembling an enterprise resource planning (ERP) system built ... -
Zynga Loses CMO Karp Sept. 12, noon
Jeff Karp, Zynga's chief marketing and revenue officer, is the latest high-level executive to leave the ... -
Tapjoy Appoints Seybold as VP Global Communications Sept. 12, noon
On Monday, Tapjoy announced the appointment of Patrick Seybold as vice president of global communications and ... -
Venables Bell & Partners To Create Audi Super Bowl Commercial Sept. 6, 10 a.m.
Audi is launching new advertising as part of its media commitment to the NFL. The campaign ...
Be the first to comment on "Zynga Loses CMO Karp"
Leave a Comment