Zynga Lures Mattrick With US$50 Million Compensation
Recently hired Zynga Inc chief executive officer Don Mattrick would receive a total of US$50 million compensation. This was to turn around Mattrick, who is a veteran in social game developing.
He will receive US$5 million signing bonus and US$1 million salary. Mattrick will also get US$25 million in restricted stock
He will receive a $5 million signing bonus, $1 million salary, $25 million in restricted stock vesting over three years. Additional restricted shares and options were also given to Mattrick that was valued around US$15 million. This was according to Zynga's filing. By 2014, the newly hirde CEO would be eligible to get US$5 million. Further, would also get a performance based equity grant amounting to US$7 million.
Don Mattrick was challenged to turn around San Francisco based Zynga as it suffered from rising competition against King.com. Mattrick will replace former CEO Mark Pincus who is also Zynga's founder. Pincus will remain chairman of the board and chief product officer of the company.