The CEO of Zynga, Mark Pincus, has elected to take a big hit in salary in order to right the ship.
According to Games Industry International, Pincus has dropped his salary to $1 annually and has removed himself from the pool of executives who can receive bonuses.
Zynga has seen its stock-prices tumble since last year. They were trading at more than $12 in April of 2012. Now? $3.51 as of writing this story.. That’s quite a skid.
Pincus’ cut comes as a sign that the company is willing to slash prices across the board in order to stop the drop. Will it work? The stock has rebounded slightly since this morning’s announcement of Pincus’ new salary.
Don’t think even for a second that Pincus will be eating Hungry Man dinners and Top Ramen in order to keep the lights on at home. Bloomberg has it that Pincus is worth more than $800,000,000. He’ll certainly put some investments to work in order to keep living his life of luxury.