Term Sheet

The latest on private equity, M&A, deals and movements — from Wall Street to Silicon Valley

Zynga COO John Schappert quits

August 8, 2012: 5:08 PM ET

Stripped of responsibilities, senior company official resigns.

FORTUNE -- John Schappert has resigned as chief operating officer of Zynga (ZNGA), just weeks after losing oversight of game development in a corporate restructuring.

Schappert had joined the social gaming company in May 2011, after having served as COO of Electronic Arts (EA). It is not believed that a recent EA lawsuit against Zynga played any role in Schappert's resignation.

"We can confirm that John Schappert has left Zynga and its Board of Directors effective immediately," Zynga CEO Mark Pincus said in an emailed statement. "John has made significant contributions to the games industry throughout his career and we appreciate all that he has done for Zynga. John leaves as a friend of the company and we wish him all the best."

As part of the July reorganization, both David Ko (head of mobile) and Steve Chiang (head of game dev) began reporting directly to Pincus, rather than to Schappert. The move came amid Zynga's inability to reverse downward pressure on its stock price, which closed trading today at just $2.95 per share.

A source familiar with the situation says that there are no immediate plans to recruit a new COO.

Sign up for Dan's daily email newsletter on deals and deal-makers: GetTermSheet.com

Posted in: ,
Join the Conversation
About This Author
Dan Primack
Dan Primack
Senior Editor, Fortune

Dan Primack joined Fortune.com in September 2010 to cover deals and dealmakers, from Wall Street to Sand Hill Road. Previously, Dan was an editor-at-large with Thomson Reuters, where he launched both peHUB.com and the peHUB Wire email service. In a past journalistic life, Dan ran a community paper in Roxbury, Massachusetts. He currently lives just outside of Boston.

Email a Tip | @danprimack | RSS
Current Issue
  • Give the gift of Fortune
  • Get the Fortune app
  • Subscribe
Powered by WordPress.com VIP.