Magic Leap, the augmented reality hardware company, has announced a change in leadership with the appointment of Ross Rosenberg as the new CEO. This transition comes just over three years after Peggy Johnson, the former CEO, spearheaded the company’s shift into enterprise applications with the Magic Leap 2.
Key Takeaway
Magic Leap has appointed Ross Rosenberg as the new CEO, marking the completion of its enterprise pivot. Peggy Johnson, the former CEO, expressed that the company had successfully reoriented itself to the enterprise market under her leadership. Rosenberg believes that as companies see the ROI from AR technologies, Magic Leap is capable of addressing the clear need for such solutions.
Johnson, a former executive at Microsoft and Qualcomm, expressed that she felt the time had come to pass the torch to a new CEO who could guide the company through its next period of growth. She stated, “Having accomplished so much of what I set out to do at Magic Leap, I felt the time had come to transition leadership to a new CEO who can guide the company through its next period of growth. I’m incredibly proud of the leadership team we’ve built at Magic Leap and want to sincerely thank all of the employees for their work in helping to successfully reorient the company to the enterprise market.”
Rosenberg, who previously served as an executive at Belden, Inc. and First Solar, is optimistic about Magic Leap’s potential in the AR market. He believes that as companies begin to see a true return on investment from deploying AR technologies, Magic Leap is well-positioned to meet the clear need for such solutions. He expressed excitement about working with the talented team at Magic Leap and thanked Johnson for her leadership during a critical phase of the company’s development.
While Magic Leap has made significant strides in its pivot towards enterprise applications, profitability remains a challenge. However, both Johnson and Rosenberg have been entrusted with the task of making the well-funded startup profitable. The company’s technology has been highly praised, evidenced by the positive reception of the Magic Leap 2. However, the question of market fit still lingers.
The introduction of Apple’s Vision Pro earlier this year raised concerns about Magic Leap’s position in the market. However, Johnson viewed it as validation for the team’s work, emphasizing that their products are targeted at enterprise customers rather than average consumers. Meta, on the other hand, has a stronger foothold in the consumer market.
While the Vision Pro has increased awareness of spatial computing and AR applications for enterprise, the true size of these markets is yet to be determined. Magic Leap, under the new leadership of Ross Rosenberg, will continue to pursue its vision for AR technology in the enterprise space.
