For the second time, Zynga founder Mark Pincus is stepping down as chief executive officer of the company. The post vacated by Pincus will be filled by former Electronics Arts executive Frank Gibeau.

A company experiencing problems in its executive ranks usually sees its stock prices drop significantly. That is not the case with Zynga, which, following the step down of Pincus, saw its stock price grow by eight percent, according to The Wall Street Journal. This could mean that investors are slowly gaining trust in the company again after Gibeau's appointment.

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Zynga was once a dominant brand in the gaming industry, especially during the early days of Facebook when the company published hits like "FarmVille." However, Zynga, then under Pincus' guidance, failed to transition into the mobile market when gaming started to shift into tablet devices and smartphones. It was during this time that Zynga lost as much as 85 percent of its stock value.

Despite the sluggish growth, investors are still hoping that Gibeau, who is highly experienced in the mobile market with Electronic Arts, can help guide the company into the right path.

At the moment, Zynga has no video game title included in the top 10 of Google Play's highest grossing app list. It is important to note that Zynga expressed its goal of being in the top 10 list back in 2014 when the company released "FarmVille 2: Country Escape." The game is now ranked 51st in the United States on the Android platform and 152nd in the iOS platform.

Gibeau has a history of success on the mobile platform when he helds the reins over at Electronic Arts. He released successful titles such as "The Simpsons: Tapped Out" and transitioned classic brands like Madden and FIFA into the free-to-play market.

TagsPincus, Mark Pincus, Zynga, Zynga CEO, Zynga News, Zynga CEO news