Unity has named former Zynga COO and EA SVP of strategy and operations, Matthew Bromberg, as its new CEO.
Bromberg joins Unity to permanently replace long-serving CEO John Riccitiello, who stepped down in October 2023 following a protracted debacle surrounding the introduction of a new runtime fee.
The company’s attempts to charge developers what essentially amounted to a per-install fee backfired almost immediately. Unity eventually reworked its plans but suffered huge reputational damage as a result of the fumbled rollout.
The appointment of Bromberg means interim CEO Jim Whitehurst has joined the company’s board of directors as executive chair. In turn, that will result in Roelof Botha transitioning from chairman of the board back to lead Independent director of the board.
Botha said Unity “couldn’t be happier” with the appointment of Bromberg. “The Board and the entire leadership team are confident that Matt’s proven leadership, customer-first mindset, and deep understanding of the dynamic gaming industry make him the right executive to lead Unity forward,” added Botha.
Whitehurst, who spoke to Game Developer at GDC 2024 about Unity’s long-term plans, said it was a “true honor” to lead the company on an interim basis. “I’m looking forward to working closely with Matt to support the company’s continued commitment to creator success and innovation.”
As for Bromberg himself, the veteran exec explained he intends to help Unity embrace its “next chapter” as the “best integrated platform for creators.”
Unity spends millions on executive hire after mass layoffs
Unity recently laid off 25 percent of its workforce as part of a wider “company reset” designed to reignite revenue growth.
Discussing those cuts in February, Unity CFO and EVP Luis Visoso described the layoffs as an “unfortunate consequence” of that reorganization plan.
What does Bromberg stand to gain from helping Unity achieve its dream of delivering “attractive” levels of revenue growth? According to an SEC filing, the new CEO will net an annual base salary of $850,000 and a target bonus of 100 percent of his base salary, subject to the company’s 2024 bonus plan.
He will also receive a sign-on bonus worth $2 million alongside an award of 1,036,055 time-vesting restricted stock units; a time-vesting option to purchase 1,000,000 shares of common stock; and a performance-vesting option to purchase up to 1,000,000 shares of common stock.
What’s more, Unity notes that, if Bromberg remains continuously employed with the company until senior executive annual equity awards are approved in 2025, he will be granted equity awards with a target value of $10,000,000, (at least half of which would be comprised of restricted stock units).