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It’s been a tumultuous year for many companies around the world, even well-funded ones like Magic Leap. Back in May the mixed reality (MR) specialist’s founder and CEO Rony Abovitz announced he was stepping down having helmed the company since 2011. Now Magic Leap has announced tech veteran Peggy Johnson as the new CEO.
Johnson has more than 30 years of experience in the technology and business sector, previously Executive Vice President of Business Development at Microsoft from 2014 and prior to that in various roles during 24 years at Qualcomm.
With a technical background as an electrical engineer, Johnson should be well suited to lead Magic Leap as it looks to pioneer MR technology for enterprise use cases. Sales have been lacklustre of its $2,300 device, to say the least, so hopefully, the reshuffle will help improve its efforts.
“Since its founding in 2011, Magic Leap has pioneered the field of spatial computing, and I have long admired the relentless efforts and accomplishments of this exceptional team. Magic Leap’s technological foundation is undeniable, and there is no question that has the potential to shape the future of XR and computing,” said Johnson in a blog posting.
“As CEO, I look forward to strategically building enduring relationships that connect Magic Leap’s game-changing technology and pipeline to the wide-ranging digital needs of enterprises of all sizes and industries,” she continues. “It is with great pride and sincere appreciation to the Magic Leap Board, Rony and the entire team, as well as to Satya Nadella at Microsoft, that I assume the role of leading this visionary business into the future.”
On the appointment, Abovitz said: “As Magic Leap drives towards commercializing spatial computing for enterprise, I can’t think of a better and more capable leader than Peggy Johnson to carry our mission forward.”
Due to the poor sales Magic Leap had to raise further investment, securing $350 million USD in the process. In the months prior there were heavy layoffs so the funding did help to put further job losses on hold.