Former Microsoft executive Peggy Johnson joins Magic Leap as CEO

Augmented reality start-up Magic Leap announced Tuesday that Microsoft executive Peggy Johnson will join Magic Leap as CEO in August, CNBC reported. Johnson was hired in 2014 by Microsoft CEO Satya Nadella, after 24 years at Qualcomm, where she held a number of positions, including managing the Internet services division, according to the filings.

At Microsoft, Johnson was a member of the company’s senior leadership team and led Microsoft through major partnership deals and acquisitions, including the 2016 acquisition of LinkedIn for $26.2 billion.

Magic Leap’s announcement comes just weeks after founder Rony Abovitz announced in May that he would step down as CEO: “It’s clear to us that my role change is a natural next step. “

Former Microsoft executive Peggy Johnson joins Magic Leap as CEO

Magic Leap, founded in 2011, was widely hyped early on and successfully raised about $3 billion from Alphabet’s Google and other investors. But the company’s first product, which will sell for more than $2,000 in 2018, has shown less ambition since its early presentations and sales have not been good, and Leap Magic recently turned to the business landscape. During the new Crown outbreak, Magic Leap announced in April that it would lay off workers as part of a structural overhaul. The New York Times reported that about 600 of its 1,900 employees were affected.

Johnson told the New York Times that she was driven to the job because she wanted to be a CEO. The company said in a filing that her last day at Microsoft will be July 7.

A Microsoft spokesman told CNBC that the company would look for a suitable candidate to replace Johnson, while finance director Amy Hood would take her over.

“I want to thank Peggy for her leadership and partnership over the past six years,” Nadella wrote in an email to Microsoft executives Tuesday morning. My ability to connect people, promote consensus, build relationships has taught me a lot. Over the years, she has been a clear role model for women in Microsoft and technology, and I know she will continue to inspire young women in STEM in her new role. “