Update (4:19 p.m.): Updated with Thursday market close information and Mattrick comments.
Head of acquisitions Terence Fung, former head of the company's "Ville" franchise Steve Chiang and Travis Boatman have left the company. The departures continue the company's ongoing restructuring as CEO Don Mattrick tries to strengthen the executive organization. An announcement on CFO Mark Vranesh's departure came in April.
"One person close to the company said that the changes reflect Mattrick's ambition to remake the company and its strategy so it can be successful in the transition to mobile games," according to Venture Beat, which noted Zynga declined to comment on the most recent departures. "Some of the executives who left did so on their own as they sought out new positions. Mattrick asked others to leave, and still others were reassigned to some completely different roles."
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Mattrick also made comments about his company's financial situation that may have spooked investors, as well. He was asked at a question-and-answer session how he felt about his company's EBITDA margins and mobile game business. "We're nowhere near where we should be when we ultimately have executed," Marritck replied. He added, "we can do better on margins and EBITDA, no doubt about it.
The stock closed down 9.17% to $2.97. More than 150 million shares changed hands, nearly five times the average volume of 32,061,600. The stock had a range of $2.73 to $3.21 for the day and holds a 52-week range of $2.50 to $5.89.