Zynga Inc. (ZNGA:US) Treasurer Mike Gupta is departing to take a similar role at Twitter Inc. as the largest maker of games played on social networks struggles to retain top managers amid slowing growth.
Gupta, a former Yahoo! Inc. (YHOO:US) executive who joined Zynga in 2011, has been named Twitter’s vice president of corporate finance and treasurer, San Francisco-based Twitter said in an e- mailed statement.
More than a half-dozen other senior executives have left Zynga in recent months amid a stock-price decline and growing concern among investors about the company’s ability to accelerate growth. David Wehner, the game maker’s former chief financial officer, resigned to take a job at Facebook Inc. (FB:US) this week. Mark Vranesh, a former CFO at Zynga, resumed the post.
Twitter is adding managers with public-company experience as the microblogging service prepares for an eventual initial public offering. Its finance team is led by CFO Ali Rowghani, a former executive from Walt Disney Co.’s Pixar unit who has assumed a broad range of responsibilities at Twitter, including oversight of partnerships and global expansion.
Gupta is a former vice president of investment banking at Merrill Lynch & Co., according to his profile on LinkedIn Corp. (LNKD:US)’s website. He joined Yahoo in 2003 and worked there for eight years.
Dani Dudeck, a spokeswoman for San Francisco-based Zynga, declined to comment.
Jeff Karp, Zynga’s former marketing chief, resigned in September, following the departures of former Chief Operating Officer John Schappert and former chief creative officer Mike Verdu.
Zynga rose 6.5 percent to $2.28 at 1:25 p.m. in New York. Its shares have tumbled 79 percent since a December initial public offering through yesterday.
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