The Chief Technology Officer of Infrastructure for Zynga, Allan Leinwand, has departed the company, according to an update he made to his LinkedIn profile.
Leinwand now finds employment as the Vice President and Chief Technology Officer of Platform Development for ServiceNow, a company that describes itself as “a leading provider of cloud-based services that automate enterprise IT operations.”
This departure follows the pattern of several of his colleagues, who also left Zynga recently. Mike Verdu, the former Chief Creative Officer of Zynga, left the social gaming company in late August to form his own mobile gaming venture; and John Schappert, the former Chief Operating Officer of the company, resigned earlier that month, a week after Bloomberg reported that he no longer directly oversaw Zynga’s games.
Zynga has not released an official press statement on the subject as of the time of publication.
Analysis: It’s no secret that Zynga’s stock price is not doing so hot, to put it lightly. The company stock has lost around 70% of its value since its IPO late last year, and signs aren’t pointing towards a swift recovery. Although several recent releases such as ChefVille and FarmVille 2 do present the opportunity for long-term growth, the road ahead for Zynga may be very tough as it tries to emulate its social gaming success in the mobile gaming market.
So what do you do when your company loses around 70% of its value in less than a year? You go elsewhere, like Verdu, who finally forsook the social gaming market to try his hand at the new mobile gaming boom; or like Leinward, who is now involved in a cloud-based automated IT service. Top-level employees, otherwise known as the ones who have the financial security and investment potential to jump ship and find something else to do, are fleeing Zynga at an alarming rate. Unless FarmVille 2 initiates a new golden age for social gaming, it seems like the struggling company might not be able to return to its more successful past. It bet on social gaming, but mobile gaming won.