OnLive CEO Steve Perlman is departing the company to work on other projects.
This announcement has come just days after his CEO status was confirmed by OnLive following its near-bankruptcy.
The company’s former head of operations Charlie Jablonski will assume the mantle of COO and acting CEO, while new owner Gary Lauder will step in as chairman.
"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 Lauder.
"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," he added.
According to a press release, OnLive is looking to hire staff for its business development team.
A little over a week ago, half of OnLive’s staff lost their jobs and all the company’s shares were rendered worthless when the company was acquired by Lauder Partners, narrowly avoiding bankruptcy in the process.
Most recently, Perlman donated US$50,000 (AUD$48,000) to a fund that was set up to help pay former employees’ healthcare costs.