OnLive CEO Steve Perlman exits company after reformation

OnLive, one of the first cloud gaming companies tocome into existencein the past few years, recently was forced to enter into a type of bankruptcy that caused as much as half the entire staff to belaid offin one day.

However, the brand and much of the company will live on through a reformed corporation that purchased OnLive's assets, logo, and name. At the time, Perlman was still with the company, leaving some scratching their heads wondering why the captain wasn't going down with the ship.

Today, however, Perlman announced that he is leaving OnLive to pursue new goals while the venture capitalist, Gary Lauder, who purchased their assets will be taking over as CEO.

"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," Lauder said. "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."

It's not clear yet what sort of projects Perlman is planning to work on, but we've got a feeling it wont be long before he's back in the saddle as he's had quite a storied career in technology and entrepreneurship.