Bob Komin departs LL

As reported by Tateru Nino, Bob Komin, Chief Operating Officer / Chief Financial Officer and interim CEO of Linden Research has departed the company.

Komin joined the company in January 2010, and is widely seen as one of the most influential members of the company’s senior management team.

Bob Komin

His describes his initial remit within Linden Lab  as being to: “Lead development of [a] plan to re-focus strategy from three target markets to one and to greatly simplify operations and organization in Q2 2010 with [the] goal of returning [the company] to profitability and positive free cash flow in Q1 2011.”

This resulted in LL becoming profitable and cash flow positive each month from October 2010, “With >20% adjusted operating margin and >30% EBITDA”, and 2011 becoming the most profitable year with the highest cash generation in LL’s history at that time.

Komin was actually appointed COO/CFO in July 2010, at the same time being made interim CEO (following Mark Kingdon’s departure and around Philip Rosedale’s brief “return” to the company). He remained interim CEO until Rod Humble officially took over the role at the start of 2011, and Komin is regarded as instrumental in both the formation of a smaller, tighter management team within the company and for Humble’s own recruitment.

Rumours about his possible departure started circulating in June, “So I asked the Lab about it.” Tateru reports on her blog, “Got confirmation a few hours ago.” Tateru indicates that LL confirmed yesterday that Komin had departed the company, stating: “After more than two and a half years at Linden Lab, Bob Komin has moved on to pursue a new opportunity. Linden Lab is thankful for his contributions to the company, and we wish him all the best in his next endeavour.”

With thanks to Tateru Nino.

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9 thoughts on “Bob Komin departs LL

  1. Hm. Not a surprise (the rumours were right!), but one wonders why he left, if the company continued to be so profitable 🙂

    Of course, he might just have had a wonderful new opportunity elsewhere!

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    1. According to the official statement – precisely that: a new opportunity elsewhere.

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  2. That length of time is about right. It looks like he managed the transition between a growth-focused strategy to a sustainable, profit-focused strategy. This line of work doesn’t always make one popular, but those who can pull it off at this level are in high demand and well compensated.

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    1. If LL can generate the kinds of EBITDA quoted, I suspect there’s candidates out there. Sometimes a new CFO can bring new perspective too.

      We need someone who is looking at how to fund the right projects (LL has a bad track record of investments in useless projects), maybe a new CFO will be mindful of projects that bring new people & new life to Second Life.

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    1. I assume that it was:

      a) Getting rid of the SLE / “SL as a business application” nonsense (which many commentators seem to forget was a major cause of LL’s staff getting massively bloated (jumping from around 250 to around 370) between Mark Kingdon’s arrival and the June 2010 lay-offs).
      b) Pushing through the “merger” of the Teen Grid with the main grid.
      c) Focusing efforts on the development / hoped-for growth with the main grid as a platform.

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