Mark Pincus has joined the growing list of founders returning to the helm replacing Don Mattrick originally hired in 2013 to replace Pincus.
As is often the case with a failed transition, the abrupt change in leadership was noted to be a setback for the company, according to a New York Times article of 8 April 2015. In an interview, Mr. Pincus said that Mattrick was not fired, but the two agreed that it was time for Mr. Pincus to return. Do you think Mattrick actually had a choice in this decision?
Although not visible in the office the past few years, Pincus apparently has seagulled in a bit leaving his mark, "occasionally emailing staff with his thoughts" according to the Times article. Certainly this was not helpful for Don during his short time there.
The company's finances worsened under Mattrick. Revenue is down from its high in 2012 resulting in a more than $200 million loss last year. Apparently, employee turnover has also been rampant. Interestingly, it appears that Mattrick was not a metrics guy, something that Pincus is much more focused on.
It certainly sounds like we can chalk this up to founder transition misfire.