SAN FRANCISCO (REUTERS) - Zynga Inc's chief executive, Mr Mark Pincus, has opted to receive an annual salary of just US$1 (S$1.24) this year and forgo all cash bonuses, the company said on Thursday.

Mr Pincus, who founded the social gaming company in 2007 and still maintains majority control, received a pay package of US$1.7 million in 2011.

His 2012 pay package has not yet been made public by the company, which is best-known for FarmVille, a popular game on Facebook.

Moreover, Mr Pincus will not participate in the company's cash bonus programme this year, the company told the Securities and Exchange Commission in a filing.

Zynga share's were flat in after-hours trading after closing at US$3.45 on the Nasdaq. They are down almost 80 per cent from a March 2012 high of US$14.69.

Once touted as one of Silicon Valley's fastest growing companies, Zynga suffered a dramatic reversal last year, when users began to abandon its red-hot games like CityVille.

The company was also caught off guard by a sweeping, permanent change in consumer behaviour, as people spent more time on their mobile phones instead of desktop computers - the platform for Zynga's most lucrative, Facebook-based games.