President and CEO of Sony Interactive Entertainment (SIE), Jim Ryan is stepping down from his role in March 2024. In a press release on Wednesday, the company announced that Sony Group Corporation President, COO and CFO Hiroki Totoki will assume the role of SIE Chairman from October 2023. Totoki will also be appointed as the interim CEO of SIE, effective April 1, 2024.

“After 30 years, I have made the decision to retire from SIE in March 2024. I’ve relished the opportunity to have a job I love in a very special company, working with great people and incredible partners,” Ryan said in a statement. “But I’ve found it increasingly difficult to reconcile living in Europe and working in North America. 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 Yoshida-san for placing so much trust in me and being an incredibly sensitive and supportive leader.”

Ryan joined Sony Europe in 1994, before the launch of the first PlayStation. Before being appointed as the President and CEO of SIE in 2019, he served as the President of SIE Europe, Head of Global Sales and Marketing at SIE, and Deputy President of SIE.

Under Ryan’s watch, Sony launched the PS5 during the pandemic but struggled to meet up with demands due to supply chain constraints. The company eventually managed to increase production and announced it had shipped more than 40 million units worldwide, in July 2023.

In the press release, Sony says Totoki will work closely with Sony Group Corporation Chairman and CEO Kenichiro Yoshida and the management team of SIE “to help define the next chapter of PlayStation’s future, including the succession of the SIE CEO role.”