Zynga CEO one of Bloomberg's 'worst CEOs of 2012'
Dartmouth College business school professor chooses five worst top executives in past year, naming Mark Pincus to the list.
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Zynga CEO Mark Pincus is one of the "worst CEOs of 2012," according to Dartmouth College Tuck School of Business professor Sydney Finkelstein. His list of five worst top executives was published at Bloomberg recently, and provides multiple reasons as to why Pincus came up short in 2012.
Finkelstein said Pincus made some "rookie mistakes" in 2012, including depending too heavily on Facebook for revenue. Additionally, Finkelstein cited Pincus unloading 16 million Zynga shares as a reason to believe he may not have much confidence in the company moving forward. A Zynga representative declined to comment.
The other four CEOs named to the list were Best Buy's Brian Dunn, Chesapeake Bay's top executive Aubrey McClendon, Avon's Andrea Jung, and Bankia executive Rodrigo Rata.
Zynga shares have tanked this year. After peaking in March at around $15, the company's per-share value as of today stands at $2.45, a dip of more than 80 percent. Zynga also faces a high-profile lawsuit from Electronic Arts over The Ville and has seen numerous top management defections in the past year.