Pincus steps back after massive losses for Zynga

Mark Pincus has stepped down from his position as chief product officer at Zynga following the announcement that the mobile publisher had made Q1 losses of around $61million (down from last year's $4million profit, but better than expected - leading to a 4% share price bump).

Pincus was CEO until last year, when he moved aside so that departing Microsoft exec Don Mattrick could take his position at the company. In other Zynga related news, another from Xbox man - Alex Garden - has taken the position of president at the mobile publishing giant.