10 ms·

John Schappert, Zynga COO, Resigns

88 points by bryanh 14y ago

aaronbrethorst 14y ago
And not even two weeks ago he was talking up Zynga's prospects in the wake of their horrendous last quarter: http://allthingsd.com/20120727/zyngas-john-schappert-talks-up-opportunities-after-a-shocking-quarter/ http://allthingsd.com/20120727/zyngas-john-schappert-talks-u... Anyone know if this language in the 8-K is essentially boilerplate? "The Company further noted that Mr. Schappert leaves as a friend of the Company and it wishes him all the best."
- ashconnor 14y ago
  Standard stuff. Not a good idea to burn bridges on your way out as it harms future prospects.
- deleted 14y ago
  [deleted]
- wilfra 14y ago
  Yes that is standard. It should be illegal. They said his resignation, effective immediately, had nothing to do with any disagreement over company operations. It had everything to do with that. He was probably fired or quit in anger over his demotion, due to his (perceived) poor performance. How they can get away with lying to the SEC and their investors like that boggles the mind - but it is how every company handles it. Firings are all resignations and they never have anything to do with the company or the former employees job performance. Everybody leaves as friends that have the upmost respect for one another and can't wait to work together again blah blah they just want to spend time with their kids. That they just drove their company into the ground is a complete coincidence.
  - codeka 14y ago
    "Effective immediately" is common for VP and CxO level positions. Remember Marissa Mayer quit Google and started at Yahoo! the next day. You're right though that "everybody is still friends" is boiler plate and doesn't actually mean anything. Especially given how horribly Zynga is doing right now, it seem unlikely that things are going great for the CxOs.
mcphilip 14y ago
Schappert successfully dumped (at least) $3.9 million in stock earlier this year. Last week he was stripped of responsibility for overseeing new games. Sounds like as good a time as any to leave. http://venturebeat.com/2012/08/01/zynga-more-lawuits-coo-demoted/ http://venturebeat.com/2012/08/01/zynga-more-lawuits-coo-dem...
- ChuckMcM 14y ago
  Yup, probably got to keep half of it after taxes, and of course once you're no longer an insider it becomes easier to sell any remaining holdings without triggering SEC rules. I think he is still named in a couple of the class action suits though, so its not like he will have a lot of free time. I am morbidly curious about how lawyer's fees are handled. Normally if you're being sued in connection with something you did for the company, the company hires a lawyer to represent you, but how does that work if you're not working the company any more?
  - cluda01 14y ago
    Logically it would seem that the company would provide counsel because at the time of the alleged incident you were conducting business for the company. This is all laymen speculation of course. Any lawyers around?
  - jfoutz 14y ago
    Odds are good he held the stock for more than a year and a day.
    - ChuckMcM 14y ago
      Well this reference [1] says that Schappert started at Zynga April 21st of 2011, and this reference [2] puts that secondary offering where he sold $3.9 million in stock at March 23rd, 2012. That is about a month shorter than a full year. Am I missing something? [1] http://techcrunch.com/2011/08/21/another-ea-exec-jumps-ship-to-zynga-jeff-karp-joins-as-chief-marketing-and-revenue-officer/ http://techcrunch.com/2011/08/21/another-ea-exec-jumps-ship-... [2] http://venturebeat.com/2012/07/31/first-zynga-stock-sell-off-insider-trading-lawsuit-filed/ http://venturebeat.com/2012/07/31/first-zynga-stock-sell-off...
samstave 14y ago
Coincidentally, I started receding spam from OMGPOP today. I simply replied: "F*ck Zynga"
- michaelochurch 14y ago
  I simply replied: "Fck Zynga" If you want to block out offensive words, you should be writing "Fuck Z*nga".
  - faucet 14y ago
    How true! Cingar = Fuck in Cuban Spanish.
beedogs 14y ago
Don't worry, they have an exact clone of him ready to step in.
- smashing 14y ago
  Oddly, the clone is modeled after a COO from another company.
NoPiece 14y ago
Schappert was also mentioned in the EA lawsuit. He was COO of EA before he left for Zynga, and according to the filing, "Mr. Shappert was then the most senior executive responsible for EA's online social gaming business. The online social gaming business divisions reported directly to Mr. Schappert, and he was directly responsible for designing and implementing EA's competitive strategies in the market. As such, Mr. Schappert had detailed, internal strategic plans and development information related to EA's effort to bring The Sims franchise to Facebook with The Sims Social."
veloute 14y ago
He used to talk exclusively to my boobs. good riddance.
- anextio 14y ago
  Ugh. I hate the "bros" that inhabit many startup companies these days.

88 points by bryanh 14y ago

And not even two weeks ago he was talking up Zynga's prospects in the wake of their horrendous last quarter: http://allthingsd.com/20120727/zyngas-john-schappert-talks-up-opportunities-after-a-shocking-quarter/ http://allthingsd.com/20120727/zyngas-john-schappert-talks-u... Anyone know if this language in the 8-K is essentially boilerplate? "The Company further noted that Mr. Schappert leaves as a friend of the Company and it wishes him all the best."

ashconnor 14y ago
Standard stuff. Not a good idea to burn bridges on your way out as it harms future prospects.
deleted 14y ago
[deleted]
wilfra 14y ago
Yes that is standard. It should be illegal. They said his resignation, effective immediately, had nothing to do with any disagreement over company operations. It had everything to do with that. He was probably fired or quit in anger over his demotion, due to his (perceived) poor performance. How they can get away with lying to the SEC and their investors like that boggles the mind - but it is how every company handles it. Firings are all resignations and they never have anything to do with the company or the former employees job performance. Everybody leaves as friends that have the upmost respect for one another and can't wait to work together again blah blah they just want to spend time with their kids. That they just drove their company into the ground is a complete coincidence.
- codeka 14y ago
  "Effective immediately" is common for VP and CxO level positions. Remember Marissa Mayer quit Google and started at Yahoo! the next day. You're right though that "everybody is still friends" is boiler plate and doesn't actually mean anything. Especially given how horribly Zynga is doing right now, it seem unlikely that things are going great for the CxOs.

mcphilip 14y ago

Schappert successfully dumped (at least) $3.9 million in stock earlier this year. Last week he was stripped of responsibility for overseeing new games. Sounds like as good a time as any to leave. http://venturebeat.com/2012/08/01/zynga-more-lawuits-coo-demoted/ http://venturebeat.com/2012/08/01/zynga-more-lawuits-coo-dem...

ChuckMcM 14y ago
Yup, probably got to keep half of it after taxes, and of course once you're no longer an insider it becomes easier to sell any remaining holdings without triggering SEC rules. I think he is still named in a couple of the class action suits though, so its not like he will have a lot of free time. I am morbidly curious about how lawyer's fees are handled. Normally if you're being sued in connection with something you did for the company, the company hires a lawyer to represent you, but how does that work if you're not working the company any more?
- cluda01 14y ago
  Logically it would seem that the company would provide counsel because at the time of the alleged incident you were conducting business for the company. This is all laymen speculation of course. Any lawyers around?
- jfoutz 14y ago
  Odds are good he held the stock for more than a year and a day.
  - ChuckMcM 14y ago
    Well this reference [1] says that Schappert started at Zynga April 21st of 2011, and this reference [2] puts that secondary offering where he sold $3.9 million in stock at March 23rd, 2012. That is about a month shorter than a full year. Am I missing something? [1] http://techcrunch.com/2011/08/21/another-ea-exec-jumps-ship-to-zynga-jeff-karp-joins-as-chief-marketing-and-revenue-officer/ http://techcrunch.com/2011/08/21/another-ea-exec-jumps-ship-... [2] http://venturebeat.com/2012/07/31/first-zynga-stock-sell-off-insider-trading-lawsuit-filed/ http://venturebeat.com/2012/07/31/first-zynga-stock-sell-off...

samstave 14y ago

Coincidentally, I started receding spam from OMGPOP today. I simply replied: "F*ck Zynga"

michaelochurch 14y ago
I simply replied: "Fck Zynga" If you want to block out offensive words, you should be writing "Fuck Z*nga".
- faucet 14y ago
  How true! Cingar = Fuck in Cuban Spanish.

beedogs 14y ago

Don't worry, they have an exact clone of him ready to step in.

smashing 14y ago
Oddly, the clone is modeled after a COO from another company.

NoPiece 14y ago

Schappert was also mentioned in the EA lawsuit. He was COO of EA before he left for Zynga, and according to the filing, "Mr. Shappert was then the most senior executive responsible for EA's online social gaming business. The online social gaming business divisions reported directly to Mr. Schappert, and he was directly responsible for designing and implementing EA's competitive strategies in the market. As such, Mr. Schappert had detailed, internal strategic plans and development information related to EA's effort to bring The Sims franchise to Facebook with The Sims Social."

veloute 14y ago

He used to talk exclusively to my boobs. good riddance.

anextio 14y ago
Ugh. I hate the "bros" that inhabit many startup companies these days.