Van Natta walks from Zynga CBO role

Owen Van Natta, the former CEO of MySpace, is to quit his position as chief business officer at casual games giant Zynga.

He will, however, remain on the company’s board and is still employed as a strategic advisor.

The decision will cost Van Natta millions of shares in the business, which has not yet filed its IPO.

Director and venture capitalist Brad Feld is to step down from the board and be replaced with fellow financier Sunil Paul.

AllThingsD reports that move is not related to recent news that Zynga is looking to backtrack on share promises to some employees.

Owen is a valuable business partner,” a Zunga statement said. He’s made great contributions to Zynga and continues to be an important part of our team.”