Zynga tweaks stock structure to give CEO more power

In what is being described as an “unprecedented” move for a technology company, Zynga has changed the structure of its stock to give CEO Mark Pincus 70 times the voting power of those who buy its shares on the stock market. Each of Pincus’ shares will be worth 70 votes, with current stockholders’ shares worth 10 votes, and those that bought shares after Zynga filed for an IPO get just one vote per share. One observer said the move may have been designed to ensure that Zynga staff with stock options do not have the power to outvote Pincus, who founded the company in 2007 and, with a 16 per cent share, is its majority shareholder.