OnLive Founder Is Out
OnLive founder Steve Perlman, who just a few days ago said he'd stay on as the CEO of the recently-rescued gaming service, is no longer with the company.
It's been an interesting week at OnLive, which was recently bought out [http://www.escapistmagazine.com/news/view/119158-Venture-Capitalist-Bails-Out-OnLive] by investment firm Lauder Partners after digging itself into a debt hole estimated at $30 to $40 million. Shareholders in the company were left with nothing and more than half its employees were laid off, but founder and CEO Steve Perlman appeared to land on his feet.
"Steve continues as CEO and is currently concentrating on the transition," a statement [http://onlivefans.com/news/2012/08/23/onlives-message-to-onlivefans-perlman-remains-ceo-onlive-heading-to-a-higher-level/] from OnLive PR said late last week. "Once this is complete, he'll be very focused on our next product releases and the vision."
Today, however, the company announced that Perlman is out, replaced by OnLive's former head of operations Charlie Jablonski, who will become COO and acting CEO for the "new" company. Gary Lauder, the managing director at Lauder Partners, will assume the role of Chairman.
"Steve has created an extraordinary company that no one else could have created," Lauder said. "He is a unique entrepreneur and deserves his legendary status in Silicon Valley as a creator of groundbreaking companies."
Such a shockingly quick change in direction could suggest that the decision to leave may not have been Perlman's, but that's purely conjecture at this point. We'll let you know when we find out more.
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OnLive founder Steve Perlman, who just a few days ago said he'd stay on as the CEO of the recently-rescued gaming service, is no longer with the company.
It's been an interesting week at OnLive, which was recently bought out [http://www.escapistmagazine.com/news/view/119158-Venture-Capitalist-Bails-Out-OnLive] by investment firm Lauder Partners after digging itself into a debt hole estimated at $30 to $40 million. Shareholders in the company were left with nothing and more than half its employees were laid off, but founder and CEO Steve Perlman appeared to land on his feet.
"Steve continues as CEO and is currently concentrating on the transition," a statement [http://onlivefans.com/news/2012/08/23/onlives-message-to-onlivefans-perlman-remains-ceo-onlive-heading-to-a-higher-level/] from OnLive PR said late last week. "Once this is complete, he'll be very focused on our next product releases and the vision."
Today, however, the company announced that Perlman is out, replaced by OnLive's former head of operations Charlie Jablonski, who will become COO and acting CEO for the "new" company. Gary Lauder, the managing director at Lauder Partners, will assume the role of Chairman.
"Steve has created an extraordinary company that no one else could have created," Lauder said. "He is a unique entrepreneur and deserves his legendary status in Silicon Valley as a creator of groundbreaking companies."
Such a shockingly quick change in direction could suggest that the decision to leave may not have been Perlman's, but that's purely conjecture at this point. We'll let you know when we find out more.
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