Three top Magic Leap executives — chief technology officer Paul Greco, chief operating officer Henk Vlietstra and chief patent officer David Lundmark — are reportedly leaving in the coming months. Insider reported the news yesterday and said Magic Leap has also rehired its former chief marketing officer Daniel Diez.
It is not exactly clear why Greco, Vlietstra and Lundmark are leaving the company. But Insider says Greco disagreed with Peggy Johnson, the CEO of Magic Leap, which replaced co-founder Rony Abovitz last year, over a choice to move the software division outside the CTO’s purview. Most of Vlietstra and Lundmark’s responsibilities have reportedly shifted to other executives at Magic Leap.
Greco and Vlietstra have both been with the company since 2013; Greco was the company’s VP of hardware before he appointed CTO in 2020, and Vlietstra was appointed COO in 2018. Meanwhile, Diez is apparently returning to Magic Leap this month after leaving in 2020, a year in which Magic Leap cut much of its workforce. A Magic Leap spokesperson declined to comment on Insiders story.
Magic Leap has changed course dramatically since its inception in 2010 — evolving from an entertainment company to an augmented reality tech startup, then receiving nearly $3 billion in funding for a consumer-friendly AR headset, and eventually turning to enterprise customers before the dramatic contraction for the last was year. It continues that pivot under Johnson, a former Microsoft executive, and plans to release a second-generation headset in limited quantities by the end of 2021.