Al Reports

Microsoft Exec Peggy Johnson to Take Over as CEO of Magic Leap

Originally posted on: www.roadtovr.com

Peggy Johnson, Microsoft’s Executive VP of Business Development, is slated to take the reins as the new CEO of Magic Leap, effective August 1st.

This comes nearly a month after co-founder Rony Abovitz announced he would be stepping down as CEO, citing the company’s need for leadership to further commercialize Magic Leap tech for enterprise.

Magic Leap recently pivoted to the enterprise space after seeing lackluster success with its $2,300 AR headset, Magic Leap 1 (previously known as Magic Leap One Developer Edition).

A recent $350 million funding round has ensured the company more runway as it no doubt strives to justify its already massive $3 billion funding, which has arrived from sources including Google, Alibaba, Qualcomm, AT&T, Saudi Arabia’s Public Investment Fund, and Axel Springer.

In a company statement, Johnson says she’s vowed to “accelerate Magic Leap’s growth and bring transformative enterprise solutions to market.”

“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,” said Johnson.

“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.”

Over Johnson’s 24 years at Qualcomm, she held various leadership positions and served as a member of Qualcomm’s Executive Committee. At Microsoft Johnson oversaw strategic partnerships and transactions, as well as strategic investments through Microsoft’s corporate venture fund, M12.

In addition to her duties at Magic Leap, Johnson also serves on the Board of Directors of the global investment management firm BlackRock, Inc.

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