What They Say
Business Insider ($) reports that three long-standing Magic Leap C-Suite execs are leaving the firm. The three are CTO Paul Greco, COO Henk Vlietstra, and chief patent officer David Lundmark. The firm has also re-heard a former CMO, Daniel Diez. Greco was named CTO in 2020, but is reported to have disagreed with a decision to move the software division out of his remit.
What We Think
I’ve tried not to get too caught up in the Magic Leap frenzy, but it’s hard to completely ignore a firm with so much backing by big technology companies. Losing one C-Suite exec is normal business, losing three starts to look either careless or like a significant shift in direction. A new CEO, Peggy Johnson, was appointed last year, so this could be an ‘aftershock’ from that appointment. (BR)
