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Zynga Pops on New CEO

Stock price up 12%

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    NEWSLETTERS

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    New CEO?

    Long-suffering Zynga investors have a new hope: Reports of a possible new CEO on the way lifted shares by more than 12 percent in Monday morning trading.

    The reports, launched by All Things D, then spread through other articles and on Twitter, have Microsoft's Don Mattrick, Head of Entertainment at the software giant, leaving Microsoft. After that, things get a bit speculative, including guesses that Mattrick will end up running Zynga.

    Mattrick has a good reputation in the gaming world, largely because of his work at Microsoft with the company's XBox. No comment from either company regarding his future, or Zynga.

    We'll stay tuned. These types of announcements are often made official at the close of stock trading.

    Update: Indeed, as the closing bell rang, Zynga announced that Mattrick will replace Pincus as CEO. Pincus will remain as Chairman.

    Scott is on Twitter: @scottbudman