Peggy Johnson has recently been appointed as the new chief executive officer at Magic Leap. Johnson has served at Microsoft in the past as the executive vice president of business development.
The news came from the company Magic Leap in a statement where they also mentioned when Johnson will begin her new role. The new chief executive will assume her position officially on August 1, 2020.
One of the major reasons why Peggy Johnson has been chosen for the role is because of her expertise. Johnson has had a 30-year long career in the technology industry which depicts loads of worthy experience.
Due to the pandemic and other reasons combined, Magic Leap has had a very tough year. The company has been struggling to make it out alive amid a damaging cash crunch along with bankruptcy.
The company had to lay off most of its employees and looked for an angel investor who would save the company from drowning. The company managed to acquire funds worth $375 million but that came with a much bigger price.
Unfortunately, Rony Abovitz’s had to be hired as the chief executive officer for the company. Abovitz’s aim had a vision for spatial computing which landed him on billion-dollar funding.
However, he was only met with failures as his products did not succeed to deliver the promises he had made.
Peggy Johnson will prove to be a worthy chief executive given her experience in the technology industry. She joined Microsoft in 2014 from Qualcomm at the position of an executive, hired by chief executive Satya Nadella.
Her role at Microsoft was to run business development and she was involved in numerous major acquisitions and partnerships. This included the $26.2 billion acquisition of LinkedIn.
Microsoft’s venture capital fund namely M12 was also launched by Peggy Johnson. The 28-year-old will take control of Magic Leap where the focus has been diverted from consumers to businesses.
On being asked about the company, Johnson only had optimistic views about Magic Leap. She admired the company’s team for their exceptional and relentless efforts.
She also added that Magic Leap’s technological foundation is strong and there is a lot of potentials for the company to grow.