Saturday, March 28, 2009
Hard Ass John Z. Fired By Linden
Yup, PG called it (this one is long overdue....) http://paymentguy.blogspot.com/2009/02/told-you-so.html
"CFO John Zdanowski Leaving Linden": From "VWN" - CFO John Zdanowski announced today on the Second Life blog that he was leaving Linden Lab. Zdanowski joined the company in Summer 2006, before the mainstream hype of Second Life or virtual worlds more generally had really picked up. It's also, as he notes, before Second Life was profitable or really had a solid business model. Following Corey Ondrejka's ouster as CTO, Philip Rosedale's transition from CEO to Chairman, and, more recently, Robin Harper leaving as VP of Marketing and Community Development, Zdanowski's exit highlights the changing nature at Linden. Half of the executive management team has joined in the last year since Mark Kingdon took over as CEO. Appropriately, Zdanowski's only offered reason for leaving is that the challenges of the start-up have been overcome.
"Fast forward to now. We have a comprehensive financial model that ties all the activities of Second Life to our revenue forecast so that we can manage to profitability," blogged Zdanowski. "I am proud to say that we boosted profitability and generated a very healthy cash balance. We implemented all new accounting practices including a comprehensive revenue recognition policy. We've come a long way and I'm proud of my work and that of the great finance team."