Becoming CEO of a pivoting business doesn’t mean jumping off the ‘glass cliff’

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Earlier this year, now former Magic Leap CEO Rony Abovitz resigned from the augmented reality headset company he founded in 2010. It was clear that the device his company had spent nearly a decade developing wasn’t viable for the consumer market, though it had previously been heralded the industry leader.


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Abovitz’s departure came one month after the company laid off one-third of its staff, following attempts to sell itself. While the move coincided with mass layoffs across the country due to the coronavirus pandemic, some employees didn’t buy COVID as the root of Magic Leap’s immediate struggles, Bloomberg reported. 

Despite the company’s uncertain future, when Peggy Johnson heard Abovitz was stepping down, she raised her hand for the job. At the

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