Zynga founder Mark Pincus is no longer in the C-suite

April 24, 2014, 12:12 AM UTC

FORTUNE — Zynga Inc. (ZNGA) founder Mark Pincus is stepping down from an operational role at the social game-maker, nearly one year after turning over the CEO reigns to former Microsoft (MSFT) executive Don Mattrick.

Pincus had been serving as chief product officer, and will continue to serve as chairman of Zynga’s board of directors.

In an interview with Re/Code, Pincus said that he plans to continue making angel investments, and may launch an incubator. He has no immediate plans to create another company.

Pincus remains Zynga’s largest single shareholder, with more than 57.6 million shares. At today’s closing price, his position is valued at nearly $255 million. But it may actually be a bit lower, as Zynga is off around 3% in the aftermarket on its Q1 results.

Shortly after the CEO shakeup last summer, Zynga board member John Doerr joked that  “get that stock price back above $10 per share … where God intended it to be.” Since then, the closest it’s gotten was $5.52 per share back on March 13.

In a statement, Mattrick said:

“It is truly a privilege to lead Zynga and I was honored when Mark asked me to join as CEO and guide the Company into its next chapter of growth. Over the last 10 months, I have found his partnership to be intellectually rewarding and I am deeply grateful for the opportunity to continue building out his vision. Going forward, with Mark in his role as Chairman of the Board, we will continue to be close partners and work together to achieve our winning aspiration to be the at scale industry leader by delivering more #1 games in more categories than any other competitor.”

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