Summary List Placement
Magic Leap is in a bad state. The augmented reality startup, once flush with cash and bursting with hype, has spent the past year laying off employees and restructuring its business.
In May, CEO Rony Abovitz announced he would step down and help the board search for his replacement. Just over a month later, Microsoft executive Peggy Johnson was appointed to charter a new course for Magic Leap that will be focused on enterprise.
But she won’t be alone. As Magic Leap enters its new phase, it’s stacking its new leadership team with long-term insiders and outside talent. Johnson has also introduced a more traditional set of corporate titles, Business Insider has learned.
We’ve identified nine key people leading Magic Leap as it attempts to recalibrate and recapture some of the hype.
Peggy Johnson – Chief Executive Officer
Peggy Johnson has leapt over from Microsoft, where she served as its vice president of business development. She officially took the reins in August, and in the time since has been rounding out her new leadership team while charting a new course for the company.
Johnson was well-recognized for her work forming (and sometimes repairing) Microsoft’s business relationships, and will refocus Magic Leap’s goal in the enterprise space.
“Magic Leap is getting one of the most impressive business leaders I have seen, and it will be a hole for Microsoft,” Wedbush Securities analyst Dan Ives told Business Insider.
Previous CEO Rony Abovitz remains on the Magic Leap board and is currently working on a new project focused on content for smartphones and augmented reality devices, Bloomberg recently reported.
Paul Greco – Chief Technology Officer
Paul Greco has been with Magic Leap since 2013, and has served most of his years there as SVP of hardware engineering and programs.
The company confirmed Greco is now getting his title bumped up to Chief Technology Officer. Most of Greco’s duties remain unchanged, however software has now been consolidated under Greco in the restructuring, Business Insider has learned.
Before the recent changes, Greco was helping lead work on a new headset that was smaller and lighter than the current one, as Business Insider previously reported.
Sources also told Business Insider that Magic Leap had plans for a headset that was closer to a pair of glasses in design, and hoped to launch it in 2023.
After the company’s widespread layoffs this year, then-CEO Rony Abovitz told Business Insider the company was “working …read more
Source:: Business Insider