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Zynga announced Monday that founder and controlling shareholder Mark Pincus would relinquish his role as Chief Executive Officer, bowing to investor pressure. The company hired Don Mattrick from Microsoft as CEO to steer a turnaround and position it for the mobile era.

Posted on July 1, 2013, at 4:53 p.m. ET

Paul Sakuma / AP

Zynga CEO Mark Pincus.