Glu Announces CEO Transition

Current Chairman and CEO Niccolo de Masi transitions to Executive Chairman role

Nick Earl, President of Global Studios, named CEO

SAN FRANCISCO--(BUSINESS WIRE)-- Glu Mobile Inc. (NASDAQ: GLUU), a leading global developer and publisher of free-to-play games for smartphone and tablet devices, announced today that Niccolo de Masi will transition from his roles as Chairman and Chief Executive Officer to become the Company’s Executive Chairman. Nick Earl, President of Global Studios, has been named Chief Executive Officer.

“On behalf of the full Board, I would like to extend my sincere gratitude to Niccolo for his exceptional tenure as our CEO,” said Benjamin T. Smith IV, Lead Independent Director of Glu’s Board of Directors. “Under his stewardship, Glu built a best-in-class game development and publishing team, achieved remarkable growth and became a leader in the free-to-play mobile industry. We look forward to Niccolo’s continued leadership of our Board and his strategic contributions to Glu.

“We’re also thrilled to have Nick appointed as Glu’s next leader. Nick and the executive team have worked together for nearly a year during his role as President of Global Studios, during which time it became clear that Nick is the ideal candidate to succeed Niccolo. We’re confident Nick will help Glu execute on existing and new initiatives and shape them to drive long-term stockholder value.”

As Executive Chairman, a position newly-created by the Board, Niccolo will shift his focus towards enhancing the Company’s long-term growth plan, including strategic acquisition planning and maximizing celebrity relationships, while also facilitating Glu’s leadership transition to drive the Company forward in a changing mobile games market. In addition to his role as Executive Chairman, Niccolo has assumed a new leadership role working with Andy Rubin, the creator of the Android operating system and ecosystem. His work with Mr. Rubin will be in the hardware sector and thus non-competitive to his involvement with Glu.

“It has been a privilege to lead Glu Mobile as CEO, and I am proud of our incredibly talented team and what we have accomplished together,” said Niccolo de Masi. “During the past six and a half years, we have experienced tremendous fundamental growth, successfully negotiating the platform transition from feature-phone paid downloads to smartphone free-to-play. From 2010 to 2015, we grew revenues at a CAGR of nearly 30%, and we significantly strengthened our balance sheet.

“Looking ahead, the Board and I believe that the time is now right for a new leader with a world-class, product-centric background who can build on Glu’s considerable success to-date. As an experienced veteran of Electronic Arts and mobile gaming, who has been with Glu for nearly a year and knows our business well, Nick is that leader. As I step up into my new strategic role, I look forward to continuing to work with Nick to position the Company for long-term success.”

Nick Earl Biography

Since November 2015, Nick Earl has served as Glu’s President of Global Studios, where he oversees all of the domestic and international studio functions for the Company. A twenty-year game industry veteran, Nick joined Glu from Kabam Inc. and Electronic Arts. At Kabam, Earl was President of Worldwide Studios, presiding over hits such as Marvel: Contest of Champions. At EA, Earl was SVP of EA Mobile, overseeing freemium hits such as The Simpsons™: Tapped Out, The Sims™ FreePlay and Real Racing 3. He also led the company’s transition from the premium to freemium model. Prior to EA Mobile, Earl was senior vice president of EA Games launching such console and PC franchises as Knockout Kings, James Bond, Tiger Woods PGA Tour, The Godfather, The Sims, The Simpsons, Lord of the Rings and Dead Space.

About Glu Mobile

Glu Mobile (NASDAQ: GLUU) is a leading global developer and publisher of free-to-play games for smartphone and tablet devices. Glu is focused on creating compelling original IP games such as CONTRACT KILLER, COOKING DASH, DEER HUNTER, DINER DASH, DINO HUNTER: DEADLY SHORES, ETERNITY WARRIORS, FRONTLINE COMMANDO, RACING RIVALS, TAP SPORTS BASEBALL, and TAP SPORTS FOOTBALL, and branded IP games including BRITNEY SPEARS: AMERICAN DREAM, GORDON RAMSAY DASH, KENDALL & KYLIE, KIM KARDASHIAN: HOLLYWOOD, and SNIPER X WITH JASON STATHAM on the App Store, Google Play, Amazon Appstore, Facebook, Mac App Store, and Windows Phone. Glu’s unique technology platform enables its titles to be accessible to a broad audience of consumers globally. Founded in 2001, Glu is headquartered in San Francisco with U.S. offices outside Seattle and in San Mateo, Portland and Long Beach, and international locations in Canada, China, India and Russia. Consumers can find high-quality entertainment wherever they see the ‘g’ character logo or at www.glu.com. For live updates, please follow Glu via Twitter at www.twitter.com/glumobile or become a Glu fan at www.facebook.com/glumobile.

CONTRACT KILLER, COOKING DASH, DEER HUNTER, DINER DASH, DINO HUNTER: DEADLY SHORES, ETERNITY WARRIORS, FRONTLINE COMMANDO, RACING RIVALS, TAP SPORTS, SNIPER X, GLU, GLU MOBILE and the 'g' character logo are trademarks of Glu Mobile Inc. or its subsidiaries.

Cautions Regarding Forward-Looking Statements

This press release contains certain “forward-looking statements” related to the business of Glu Mobile Inc., including statements that we look forward to Niccolo’s continued leadership of our Board and his strategic contributions to Glu; that we’re confident Nick will help Glu execute on existing and new initiatives and shape them to drive long-term stockholder value; that Niccolo will shift his focus towards enhancing the Company’s long-term growth plan, including strategic acquisition planning and maximizing celebrity relationships, while also facilitating Glu’s leadership transition to drive the Company forward in a changing games market; and that Niccolo looks forward to continuing to work with Nick to position the Company for long-term success. Such forward-looking statements involve known and unknown risks and uncertainties, including, but not limited to, the risk that we do not successfully manage our CEO transition; the risk that consumer demand for smartphones, tablets and next-generation platforms does not grow as significantly as we anticipate or that we will be unable to capitalize on any such growth; and the risk that we do not realize a sufficient return on our investment with respect to our efforts to develop free-to-play games for smartphones, tablets and next-generation platforms. Certain of these risks and uncertainties are or will be described in greater detail in our public filings with the SEC. Glu is not under obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.

View source version on businesswire.com: http://www.businesswire.com/news/home/20161103006686/en/

Media:
Glu Mobile Inc.
Claudia Oropeza, 415-800-6378
[email protected]
or
Investor Relations:
ICR Inc.
Seth Potter, 646-277-1230
[email protected]

Source: Glu Mobile Inc.

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