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OnLive CEO And Founder Steve Perlman Is Out

Radford C. Aug 27, 2012 0

Steve-Perlman-Onlive Former CEO

CEO and Founder Steve Perlman who was originally intended to lead the new OnLive which was acquired by Lauder Partners last week has been ousted from the newly restructured company. This story is still developing and the following press release was just published minutes ago:

OnLive, the pioneer of instant-action cloud computing, announced today that Gary Lauder, the lead investor in OnLive and the Managing Director of Lauder Partners LLC, will become the new Chairman. The company also announced that Charlie Jablonski, the former head of OnLive operations, will become OnLive’s COO and acting CEO. Steve Perlman, OnLive’s founder and former President and CEO, is departing to work on his myriad of other projects. “Steve has created an extraordinary company that no one else could have created. He is a unique entrepreneur and deserves his legendary status in Silicon Valley as a creator of groundbreaking companies,” said Chairman Gary Lauder.
The new OnLive is emerging with greater financial security and a brighter outlook on the future. OnLive is now positioned to execute against longer-term projects with our breakthrough technology, products and services,” said Lauder, also adding, “I spent my first week with OnLive listening, to gather people’s thoughts and suggestions. It’s an impressive group, and I am even more convinced that this company is poised for greatness.”

The company plans to continue building the OnLive management team in key categories as the company delivers on its mission of breaking new ground in cloud services both for games and remote application delivery to thin devices, legacy platforms or any platforms with a fast connection. The new OnLive is looking to hire great people for the business development team, as well as a senior marketing leader.

Initially, Perlman was to stay on board but the company used an insolvency tool known as Assignment for the Benefit of Creditors, all the stock in the company (including his) was reportedly wiped out. After purchasing the assets of OnLive, Gary Lauder originally told reporters that he hoped and expected that Perlman would stay on as CEO.

Now, rumors are surfacing from within the company that the group of remaining employees asked for Perlman’s resignation before considering employment with the newly restructured company.