Zynga founder Mark Pincus reduces voting power after changing stock

Zynga announced today that its founder Mark Pincus is converting his high-voting shares in the mobile game company to Class A common stock. As a result, Pincus’s overall voting rights at Zynga will drop from about 70 percent to approximately 10 percent.

Although Pincus will still serve on Zynga’s board of directors as the non-executive chairman, but this will reduce his power in the company. He told GamesBeat that this move will simplify Zynga’s stock, removing its old multiclass structure to one where one stock equals one vote.