PlayStation CEO Jim Ryan announced his retirement after four years at the helm of the gaming company.
Ryan first joined the company in 1994 and became CEO taking over from John Kodera who moved to Sony’s leadership team.
During Ryan’s time as CEO, he oversaw the launch of the PlayStation 5 in 2020.
Citing the constant strain of travel from his home in the UK to PlayStation’s offices in North America and Japan, Ryan who is 64 decided to make the change.
“PlayStation will always be part of my life, and I feel more optimistic than ever about the future of SIE,” Ryan said.
Hiroki Totoki has been named as interim CEO beginning in March 2024 and Ryan will provide six months of transition.
Totoki is currently COO of Sony and is second in the administration structure below CEO Kenichiro Yoshida and it is likely that Totoki will be actively recruiting a successor.
“The PlayStation business managed by SIE is an essential part of Sony Group’s entire business portfolio,” offered Totoki. “I would like to express my heartfelt gratitude to Jim Ryan for his outstanding achievements and contributions over his 30-year career at Sony, including the great success of launching the PlayStation 5.”
PlayStation holds a commanding 87% market share over its nearest rival Xbox, and has sold 88 million units through its different iterations
Last year Sony earned $88 Billion in revenue from all its businesses but its gaming business accounted for nearly 1/3 of all revenue.
The company is already working on the PlayStation 6, as while no official timeline has been offered, the projected date from analysts comes around 2026.