Unity's Executive Marc Whitten will Resign in June

June 1st not only marks the beginning of Sony's new dual-CEO structure but also signifies the date when Unity Software Inc.'s Chief Product and Technology Officer for Create, Marc Whitten, is set to step down from his role, according to a recent 8-K filing with the U.S. Securities and Exchange Commission.

Whitten, who joined Unity in February 2021, initially served as the SVP & GM of Unity Create, and was then promoted to President of Unity Create in March 2023. Unity Create is the business division that provides a suite of tools and services for the creation and development of interactive, real-time 3D content.

Although the exact reasons for Whitten's departure remain unknown, it's interesting the news comes just days after Unity reported a financial quarterly loss of nearly $300 million. To be more precise, for the first quarter of 2024, Unity posted a loss of $291 million, which encompassed $212 million in restructuring charges and a gain of $61 million associated with the buyback of convertible notes. Despite the significant loss, Unity stated that the financial performance for the first quarter of 2024 was "in line with expectations".

In a risk assessment that came along with the Q1 financial report, Unity acknowledged the impact of the Runtime Fee policy controversy that unfolded last September. Notably, Whitten, who was at the helm of Unity Create at the time, had shared updates regarding the contentious policy in an open letter to calm the community down. 

Although Whitten's resignation takes effect in June, he is slated to remain employed with Unity until December 31, 2024. This extended period will be utilized to facilitate a smooth transition of his responsibilities. 

Check out the 8-K filing here for more details regarding Whitten's departure from Unity and don't forget to join our 80 Level Talent platform and our Telegram channel, follow us on Instagram, Twitter, and LinkedIn, where we share breakdowns, the latest news, awesome artworks, and more.