MAJOR SHAKEUP AT ZYNGA AHEAD OF IPO: Chief Business Officer Van Natta Is Out

MySpace CEO Owen Van Natta

Owen Van Natta, chief business officer of Zynga, is stepping down just a few weeks before Zynga is expected to make its trading debut, Kara Swisher of All Things D reports.

Van Natta only vested a portion of his 6.75 million shares at Zynga. He is leaving about 4.6 million shares on the table as he takes on a new role of strategic advisor for partnerships, according to the company’s most recent filing with the Securities and Exchange Commission.

Prior to his short stay at Zynga, Van Natta, 41, had brief stops at both Facebook and Zynga. 

Zynga is expected to make its trading debut after the U.S. Thanksgiving holiday. The company looks to raise up to $1 billion in its initial public offering. SharesPost, a secondary trading market, lists the value of Zynga’s shares at around $20.

Van Natta will remain on Zynga’s board of directors.¬†Brad Feld, an investor in Zynga with Foundry Group, is also leaving Zynga’s board of directors.

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.

Tagged In

ipos sai-us zynga