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Newsbrief: Magic Leap has brought ex-Microsoft executive Peggy Johnson as the company’s new CEO, filling a vacancy left by co-founder Rony Abovitz’s departure from the chief exec seat in May.
Johnson, who previously served as Microsoft’s EVP of business development, is set to officially assume the CEO role on August 1 to, according to a press release, “accelerate Magic Leap’s growth and bring transformative enterprise solutions to market.”
She joins the company at a complicated time, having signed on just months after Magic Leap laid off around 1,000 employees in a bid to help it “adapt to new market realities.” Shortly after, the company secured $350 million in funding to stave off further layoffs as it continues to push toward a more enterprise-focused AR strategy.
“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,” reads a statement from Johnson.