Mattrick's Zynga Offer Includes $5 Mill Signing Bonus

Mattrick's Zynga Offer Includes $5 Mill Signing Bonus

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How much is that CEO in the window? The one with the waggly tail?

Don Mattrick's unexpected departure from Microsoft set the internet afire a short while ago and we now know how much Mattrick was offered to jump ship. It must be pretty sweet to know that your prospective employer values you so much as to offer a sign on bonus of $5 million before you so much as walk in the door on Monday. But it gets better.

Base salary is $1 million per annum, with a pro-rated 2013 guaranteed minimum annual bonus of his base salary times the greater of either 200%, or the average 2013 bonus percentage of the company's other officers. In 2014 that bonus is a minimum 200% of base salary, maximum 400%. After that, the Compensation Committee gets to decide what that bonus will be. Oh, don't forget the inducement grants - stock, stock and more company stock - and the make-whole grant intended to compensate him for any losses he may have incurred from leaving his old company scheme (again, stock, to the target value of $25 million).

All this from Zynga, the company with the lackluster stock price, and uncertain future. Until recently financial analysts were ambivalent as to the value of Zynga as an investment, and nobody seemed to know whether Zynga's flirtation with casino gambling would pay off. Plus the boatload of cash it paid for OMGPop - flushed down the financial toilet - did Zynga no favors. Its CEO recently took a pay cut to help keep top executives on board; before that Zynga was losing top people left and right. Now Mattrick's a Zynga man, and with a very generous pay packet. Zynga had better hope that Mattrick proves to be a sound investment; stock bump aside, the mere existence of a new CEO doesn't mean a golden age is at hand.

Source: Zynga Report

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That's annoying, when I saw the thumbnail I thought that the news would be conker's bad fur day related.

Just hurry up, crash and burn and stop wasting our time.

Also: Zygna still has that kinda money? -_^

Vault Citizen:
That's annoying, when I saw the thumbnail I thought that the news would be conler's bad fur day related.

That wacky conler and his hilarious fur-themed misadventures! conler, by the company that bought you bamjo kaxooie and domley long cumtry.

Fucking hell. Just...fucking hell.

Not bad work if you can get it!

Five million dollars... for this guy. Why not me? I'd throw my pride and sense of self worth out the window and become a contemptuous corporate tool for 10% of that amount!

Seriously, Zynga, call me. We can cut a deal! Just give me a chance!

Andy of Comix Inc:

Vault Citizen:
That's annoying, when I saw the thumbnail I thought that the news would be conler's bad fur day related.

That wacky conler and his hilarious fur-themed misadventures! conler, by the company that bought you bamjo kaxooie and domley long cumtry.

Indeed, I know that people thought that Conler was just a rip off of Rare's more well known character Conker but he really spoke to me on an emotional and spiritual level. The journey that I took with Conler will still with me forever.

(Thanks for pointing out the error, I will fix that in a moment)

I'd like to raise a practical question at this point. Does Zynga have $5 million to give him? I thought they they were just left with a couple of flat, half finished bottles of Schwip Schwap and five thousand boxes of printer toner.

The economy is a mess and wages like this are thrown around ._.

Vault Citizen:
That's annoying, when I saw the thumbnail I thought that the news would be conker's bad fur day related.

The article does talk about a great mighty poo though.

Where is Zynga getting this money all of a sudden? I thought they were dying a rapid death.

This quite the Hail Mary for Zynga. One big gamble. Especially with Mattrick's showing at E3. Zynga is a perfect match for this guy anyways, what with all their already in-place anti-consumer policies.

From a financial standpoint he seems to have all to gain and nothing to lose. Provided they don't give him stock. And even if the company folds a day latter he still has 5 million pocketed.
His image is already tarnished, it's not lkike this will make it worse. But I figure this guy won't go, he's already rich. I think he'll take a nice vacation.

rasputin0009:
This quite the Hail Mary for Zynga. One big gamble. Especially with Mattrick's showing at E3. Zynga is a perfect match for this guy anyways, what with all their already in-place anti-consumer policies.

What gamble? They get a big name, pay him enough to compensate him for the damage to his reputation and keep the game alive for as long as possible ... the game being paying out inflated paychecks to top management and board from the remaining cash reserves.

At some point the muppets will catch on that they should just liquidate most of the company, Zynga is just trying to delay that moment.

I think we found out why games cost so much to make. You have to pay the million dollar salaries these assholes demand for being absolutely incompetent.

To me this just seems like a giant tax evasion scheme, Zynga was supposedly dying a few months ago and is now signing away millions of dollars. Me thinks someone is embezzling money as "employee" fees.

I can't really blame the guy. I'd join Zynga for $5 mil, I'd just do a shitty job, leave after about a year and retire. I suspect he earned a few bob at Microsoft too, so he probably could quite comfortably.

I'm sure there's an important message to be taken from the fact that you can be internationally famous for one and only one thing-screwing up your product so bad that your competitors receive repeat standing ovations simply for not doing what you've done-and still have people fight to put you in charge of their company and give you a million-dollar salary.

I wonder if this guy has ever put as much thought and work into what he does as any of the people I know who work their asses off every day just to keep feeding themselves.

Meanwhile, at Microsoft...

Vault Citizen:
That's annoying, when I saw the thumbnail I thought that the news would be Conker's Bad Fur Day related.

Me too. It's funny, I just completed it the other day, and then I got sad because I knew there was no more Conker (There is Live & Reloaded but it sucks and I don't own an Xbox anyway). Then I saw this thumbnail and thought they were announcing the long-gestating sequel.

Just as well. If Microsoft had a hand in it, it would probably end up being a Great Mighty Poo.

Stupid people hiring stupid people... I can say little more bar the weak 'lol'

this is why I always roll my eyes when development costs are cited as too high.
When one person's signing bonus is 1 million dollars more than the kickstarter to fund the entirety of Project Eternity, something's wrong.

DVS BSTrD:

Also: Zygna still has that kinda money? -_^

For CEO's of course they have money. -.-

OT: Yeah I don't get why this fuck deserves a paycheck that large after his most recent failures.

Well, it appears that your salary is now directly tied to the size of your fuckups.

Well shit, don't I feel silly now. All I got for my "signing bonus" if you can call it that was some company stationary, a key card to the shitter, a box of delicious cookies from this local swanky bakery, and a 50 dollar gift card to Red Lobster/Olive Garden/Longhorn Steakhouse.

I wonder if it's too late to show them this article and renegotiate the matter five years after the fact. I'll offer to reimburse them for the cost of my previous signing bonus and in return they give me 5 million dollars. I'd want to keep my key card to the shitter though. I've never had access to an exclusive shitter before. Although to be honest I usually find myself shitting with the peons, their public shitter is much closer to my office.

What company would witness the trainwreck that represented the way this man handled PR and go "I like the cut of his jibe, and I'm willing to pay one million dollars five million dollars for his services"?

Oh that's right, Zynga.

Vault Citizen:

Andy of Comix Inc:

Vault Citizen:
That's annoying, when I saw the thumbnail I thought that the news would be conler's bad fur day related.

That wacky conler and his hilarious fur-themed misadventures! conler, by the company that bought you bamjo kaxooie and domley long cumtry.

Indeed, I know that people thought that Conler was just a rip off of Rare's more well known character Conker but he really spoke to me on an emotional and spiritual level. The journey that I took with Conler will still with me forever.

(Thanks for pointing out the error, I will fix that in a moment)

I felt a little bad mocking you for it, since is a really simple typo, but the "bamjo kaxooie" joke was too good to pass up.

That amount of pay is appalling since they laid off 520 workers.

One man is not worth that much money.

Well, this just shows they have a lot of faith in him... That, or they got very very desperate for something, or someone, to pull their shit together. Either way, I'd prefer it if they just died out

Silly Zynga; I could continue your company's flailing tailspin for a tenth of the cost.

Why? Just... why?

I don't mean that in "oh the world is so unfair!" kind of way. I'm trying to come up with an objective line of reasoning for throwing that kind of money at a man who's proven his utter incompetence.

Let's say I'm a soulless corporation bent only on acquiring profit (and that we're all fine with that). Why would I want to hire this man for such a huge amount of cash? What would be my reasoning? Furthermore, there are reasons NOT to hire him - there is a ton of bad press stuck to his name at the moment. By throwing money at him, I'm attaching myself to that bad publicity. So why would I waste such sums on a person who is likely to do more harm than good to me?

Sometimes I wish that all the people that can afford to wipe their asses with $100k bills, while millions have no job, no medicine, and no hope for a better life in their lifetimes, would just migrate to a moonbase and leave the rest of us to fix our economy without them.

They are ruining the curve dammit!

First thought is "How does Zynga have 5 million dollars?" and second is "Why would they spend it on this guy?".

TheRightToArmBears:
I can't really blame the guy. I'd join Zynga for $5 mil, I'd just do a shitty job, leave after about a year and retire. I suspect he earned a few bob at Microsoft too, so he probably could quite comfortably.

Jandau:
Why? Just... why?

I don't mean that in "oh the world is so unfair!" kind of way. I'm trying to come up with an objective line of reasoning for throwing that kind of money at a man who's proven his utter incompetence.

Let's say I'm a soulless corporation bent only on acquiring profit (and that we're all fine with that). Why would I want to hire this man for such a huge amount of cash? What would be my reasoning? Furthermore, there are reasons NOT to hire him - there is a ton of bad press stuck to his name at the moment. By throwing money at him, I'm attaching myself to that bad publicity. So why would I waste such sums on a person who is likely to do more harm than good to me?

It looks good to other corporations and stock holders that you are hiring prime talent to run the company. You can see it's prime talent, because you're paying that amount.

I once had a chance to have a conversation with a very succesful businessman at a start-up convention. He told me a analyst once wrote that his company would have trouble because the missed x expertise. According to this businessman, the analyst just kinda wrote something that wasn't really true, but it would prevent people from buying their stock at a time when they were considering selling the company. So what they did, they bought a company that had x expertise, even though they already had x expertise themselves. The company they bought was worth 1-5 million. But they bought it for 25 million. In a few days, the value of their own company went up 100 million.

So yeah. A lot of people don't look at the quality of the product when they invest.

I imagine he is sleeping very well these days, oh the hardships of the future.
I'm sure this is good for Zynga if only because people will invest in the company, regardless of its products, if big shot public faces are involved.

Man i hate business.

Aren't we talking about Zynga here?

You know, the country that, not too long ago, was in such financial trouble, that their accumulated stock value was LESS than the value of their actual hard assets?

How in the fuck do they have the cash for this?

Holy crap! How do I land a deal like that?

What was the reasoning behind that decision?
There must be something we don't know.

 

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