Longtime Bungie CEO Pete Parsons has announced his retirement, stating that it is “the right time for a new beginning” at the Sony-owned studio. He will be succeeded by Justin Truman, who previously served as the studio’s chief development officer. Parsons reflected on his long career at Bungie, starting in 2003, and highlighted his pride in the franchises he helped create, including Halo and Destiny.

Parsons noted, “After more than two decades of helping build this incredible studio, establishing the Bungie Foundation, and growing inspiring communities around our work, I have decided to pass the torch.” His departure comes as Destiny 2 faces declining player sentiment and pressure from Sony following its acquisition.

In recent times, Parsons has faced criticism for his handling of layoffs and the studio’s financial decisions. This change in leadership signifies a shift in Bungie’s approach, as it integrates more closely with Sony, and fans will be looking to see how Truman will navigate the studio through its current challenges.