Zynga has had a seriously rough 2012. The social gaming behemoth is now pretty much a social gaming flea thanks to massive stock devaluation and the company’s inability to hold on to any of its senior staff members. Zynga has lost the vast majority of its more senior employees in typical “rats escaping a sinking ship” style. Company CEO Mark Pincus, however, has stuck to the helm of the HMS Zynga.
Unfortunately for Pincus, many business analysts are laying the blame for Zynga’s dramatic fall from grace squarely at the CEO’s feet. Prominent business publication Bloomberg has released their list of the “absolute worst chief executives” for 2012, and Mark Pincus is sitting at number four.
The business publication accuses Pincus of committing “some rookie mistakes, including hitching his company’s wagon much too securely to Facebook, which Zynga relies on for a big chunk of revenue.” There’s also the matter of Pincus offloading 16 million shares and allowing the share value to fall by 75%. Talk about kicking them while they’re down.