Zynga CFO David Wehner is leaving the online games company for a finance position at Facebook. He’ll likely make an easy transition: Facebook was responsible for 84% of Zynga’s revenue last quarter. (Zynga, meanwhile, contributed 7% of Facebook’s revenue in the same quarter.)
I’d call this a Silicon Valley revolving door, but most executive moves at Zynga recently have been out of the company. John Schappert left the COO role earlier this year following consecutive quarters of declining revenue.
The company’s stock price is down 80% since its IPO last year, though many executives, including Wehner, have unloaded shares along the way. Zynga saw explosive growth in online gaming before going public, but its reliance on Facebook has been a weakness. Its latest gambit is a move into online gambling.
Wehner will be replaced as CFO by Mark Vranesh, who was the chief accounting officer. Zynga made a few other internal promotions on its finance side, as well.