Top executives at Magic Leap are leaving the company in the biggest leadership shakeup under CEO Peggy Johnson
- Magic Leap is losing three of its top executives in a leadership shake-up, Insider has learned.
- The CTO, COO, and chief patent officer will exit. The company is also hiring back its former chief marketing officer.
- Peggy Johnson became CEO of Magic Leap last August after founder Rony Abovitz stepped down.
- See more stories on Insider’s business page.
Augmented reality company Magic Leap is going through another major leadership shake-up, with three high-level leaders departing and a former executive brought back into the fold, Insider has learned.
Several c-suite executives are leaving the company, according to two people familiar with the changes. Chief technology officer Paul Greco will leave Magic Leap this month and chief operating officer Henk Vliestra is set to depart later this year, they said. Both Greco and Vliestra have been at the company since 2013.
Most of Vliestra’s responsibilities are set to be placed under the company’s chief financial officer, one of these people said.
These changes were announced to employees during an all-hands meeting on Tuesday, along with two other executive changes, these people said.
David Lundmark, Magic Leap’s chief patent officer, will also depart in June. Lundmark’s responsibilities will be rolled under Magic Leap’s general counsel.
Meanwhile, Magic Leap has hired back Daniel Diez, its former chief marketing officer, who will return to the same role this month.
A spokesperson for Magic Leap declined to comment.
All told, it’s the biggest shakeup in Magic Leap’s leadership ranks since the arrival of Peggy Johnson as CEO last summer.
In April 2020 Magic Leap laid off around 1,000 employees, Bloomberg reported at the time. Shortly after, Insider broke news that CEO Rony Abovitz would step down.
Peggy Johnson, the former Qualcomm and Microsoft exec who was announced as Abovitz’s replacement last July, has refocused Magic Leap on the enterprise market, continuing a retreat from the consumer space that began under Abovitz.
Abovitz, who continues to sit on the Magic Leap board as an advisor, has since launched a new startup focused on interactive storytelling called Sun and Thunder.
Insiders say there were disagreements between Johnson and Greco over a decision to spin software out of the CTO’s group. It could not be learned if this was the direct reason for Greco’s departure. The company announced in March that it had hired a chief software and cloud officer, and a chief product officer.
The changes also arrive as the company nears the launch of its next product. A year ago Insider reported that Magic Leap had been working on a second-generation device that was smaller and lighter – with a more radical designed planned to follow.
Magic Leap confirmed the existence of the second-generation device, dubbed Magic Leap 2, to Protocol in April this year. The company intends to launch the product in early access in Q4 this year and make it generally available in Q1 2022, it said.
Insider Inc.’s parent company, Axel Springer, is an investor in Magic Leap.
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