Lytro Founder Ren Ng has announced that he’s stepping down as CEO and will be transitioning into the company’s Executive Chairman effective immediately. Charles Chi, the current Executive Chairman, has been named interim CEO until a more permanent CEO has been found.

Ng will remain a full-time employee but will shift his focus to product 100 percent, according to his blog post.

I will remain a full-time employee, 100% focused on Lytro. In my new role I will shift attention from day-to-day operations, to focus again on product vision, technology, and strategic direction for the company. I am very excited to have the opportunity to focus on these areas where I am most passionate.

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• LYTRO

Company: Lytro

Website: lytro.com

Funding: $50M

In short, Lytro is developing a new type of camera that dramatically changes photography for the first time since the 1800s. Rather than just capturing one plane of light, it captures the entire light field around a picture, all in one shot taken on a single device. A light field includes every beam of light in every direction at every point in time. Experimentation in this field started in the mid-1990s at Stanford with 100 cameras in one room....

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