Second Life Creator to Step Down As CEO of Parent Linden Lab

This article was posted in Wall Street Journal on March 14. 2008
New hero in IT World Philip Rosedale step down from his Lab.
when I first heard about Second Life it recalled the time that first heard about the Internet
Second Life is not only revolution of Internet but also new creator of IT world.
Let's see the article below.....

By DON CLARKMarch 14, 2008 2:32 p.m.
SAN FRANCISCO -- The man who led the creation of the popular online community Second Life plans to step down as chief executive officer of Linden Lab, the closely held company that manages the service.
Philip Rosedale, who founded Linden Lab in 1999, plans to assume the role of chairman after a search for a new CEO is completed, the company said.
Linden Lab created the best-known example in a category known as virtual worlds, which are free-form animated environments that users often explore by taking characters known as avatars. In Second Life, users also create buildings, scenery and other objects, exchanging virtual goods and services that are purchased with a currency that can be exchanged for U.S. dollars.
Second Life attracted a flood of users in the past couple of years, as well as businesses that set up the equivalent of virtual storefronts. But the service has grappled with problems that include limiting actions by anonymous pranksters. Some businesses have recently scaled back their activity in Second Life.
Mitch Kapor, an investor who is currently Second Life's chairman, will give up that role but remain a board member after the transition. He said the change reflects the typical progression when the growth of a startup demands an operations-oriented executive, a point that Mr. Rosedale concluded Linden Lab had reached.
"The company has a very nice business that is a lot larger than virtually everybody thinks," Mr. Kapor said. "It is profitable and is growing very nicely."
Mr. Rosedale, as chairman, will continue to play the role of visionary, while having to worry less about operating issues, Mr. Kapor said.
Mr. Rosedale was not available for comment. But in a prepared statement, he said his passion for Second Life is undiminished.
"As we move into the next phase of growth we must be able to scale faster on a global basis and position the company to meet the needs of our expanding business and consumer customer base," Mr. Rosedale said.
The management change was reported by Reuters.
Write to Don Clark at don.clark@wsj.com