Having perhaps overestimated consumers' virtual demand, Linden Lab said Thursday that CEO Mark Kingdon is stepping down. Just weeks ago, the company said it was laying off 30% of its staff, and taking
its virtual world SecondLife in a new direction. Company founder Philip Rosedale has been named interim CEO, while CFO Bob Komin has assumed the additional role of COO,
TechCrunch reports. "The company did not give a reason for the reshuffling of the executive team but it's safe to
assume that it reflects Linden Lab's new strategic direction," writes TechCrunch.
Earlier this month, Linden Lab said it planned to make SecondLife more browser based, eliminating the need
to download any software. According to TechCrunch, "The company is also pushing for SecondLife to extend to social networks." A year ago, Linden Lab was reportedly valued between $658 million and 700
million. Kingdon left his role as CEO of Omnicom's Organic to join Linden Lab in mid-2008.
Read the whole story at TechCrunch »
Looks like Linden Labs was not as dumb as Mark Kingdon's previous employers and didn't believe all the hype for which he is notorious. So they kicked him out. However he prefers to call it "stepping down". LOL. You were FIRED sweetheart!!