PlayStation CEO Jim Ryan announces his retirement

Sony Interactive Entertainment (SIE) CEO and President Jim Ryan has announced his departure after nearly 30 years with the company.

The details:

• Ryan announced his retirement in a new statement, revealing that he will leave Sony in March 2024 after joining SIE in 1994 and working in several executive positions over the years. "I've relished the opportunity to have a job I love in a very special company, working with great people and incredible partners. But I've found it increasingly difficult to reconcile living in Europe and working in North America,” Ryan said. "I will leave having been privileged to work on products that have touched millions of lives across the world; PlayStation will always be part of my life, and I feel more optimistic than ever about the future of SIE. I want to thank [Kenichiro Yoshida] for placing so much trust in me and being an incredibly sensitive and supportive leader.”
• Hiroki Totoki, the current President, COO, and CFO of Sony Group Corporation, will take over as SIE's chairman in October and will also serve as the company's interim CEO beginning April 1, 2024, while continuing in his current role.
• Sony CEO Kenichiro Yoshida also expressed his gratitude to the SIE boss in a statement, referring to him as an "inspirational leader" and calling the PlayStation 5 launch an "extraordinary achievement" given the global pandemic at the time of its release. Yoshida concluded his statement by saying that Ryan's departure has forced the company to make an "important decision," but that Sony has "discussed intensively and determined the new management structure.”
• Xbox Head Phil Spencer also paid tribute to the CEO via his X account. “Jim Ryan has been a great contributor to our industry and a fierce leader for PlayStation. I wish him the best in what he does next,” Spencer said. “Thank you for all you’ve done for the community over the last 30 years, Jim.”

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• Capcom's COO has stated that he believes players should pay more for games to offset rising development costs. The executive claims that creating games is "100 times more costly," but prices for AAA titles have only increased slightly in comparison.