Former Microsoft Executive Peggy Johnson Takes Over as Magic Leap CEO
Augmented reality startup Magic Leap names former Microsoft business development chief Peggy Johnson as its new CEO. Johnson steps in to lead the company following founder Rony Abovitz's departure and a recent major restructuring.
Former Microsoft executive Peggy Johnson takes over as the new CEO of augmented reality startup Magic Leap. She brings extensive experience from her six years leading Microsoft's business development, where she manages major acquisitions like the $26.2 billion LinkedIn purchase. Johnson leaves her role at Microsoft this Tuesday to officially transition into her new position in August.
Magic Leap faces a critical turning point as it navigates a major shift in its business strategy. The company, which raises about $3 billion in its early years, struggles with disappointing sales of its first headset and recently lays off around 600 employees during the pandemic. Founder Rony Abovitz steps down in May, paving the way for Johnson to guide the company's new focus on enterprise scenarios rather than consumer markets.
Microsoft currently searches for both internal and external candidates to fill the vacancy left by Johnson. In the meantime, Chief Financial Officer Amy Hood assumes responsibility for Johnson's direct reports. Microsoft CEO Satya Nadella praises Johnson for her ability to forge relationships and highlights her role as a model for women in the technology sector.