Sunday, April 7, 2013

Zynga CEO Mark Pincus joins $1 salary club

David Paul Morris

Mark Pincus, chairman and chief executive officer of Zynga Inc., is joining the $1 salary club.

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Preeti Upadhyaya: Technology Reporter- Silicon Valley Business Journal; Email | Twitter

Zynga CEO Mark Pincus is the latest Valley executive to voluntarily take a $1 salary, joining the likes of Mark Zuckerberg, Meg Whitman, Larry Ellison, among others.
The Zynga exec also asked his company's board to exempt him from any bonus or equity awards, reports Games Industry International, which first broke the news.
The drop in salary won't be hurting Pincus' pocketbook, however. Bloomberg reports that he is worth $800 million.
Other Zynga execs won't be taking pay cuts. Each makes at least $425,000 before bonuses of 100 percent of their annual salary.
Pincus's gesture of good will is the latest in a series of moves on his part to improve his company's performance. Zynga has experienced a recent outflow of talent and cash. The company also added Kleiner Perkins Caufield & Byers' John Doerr, an early backer, to its board.