Insomniac Games founder and CEO Ted Price is stepping down from his role atop the Sony Interactive Entertainment-owned studio after more than 20 years running the company behind PlayStation’s “Ratchet & Clank” franchise and “Marvel’s Spider-Man” games.

Insomniac Games CEO and founder Ted Price announced his retirement, and also revealed the new team that will be leading the studio.

Ted Price, the CEO and founder of Insomniac Games, has stepped down after more than 30 years with the company in order to retire from the industry.

Thirty years after founding Insomniac Games, Ted Price is stepping down as the developer's CEO to retire. Price mentioned that he made the decision last year, informing his team last week before making a public announcement today. He will leave the industry entirely at the end of March.

After three decades at the helm, Insomniac Games founder and president Ted Price has announced he’s retiring. Price will officially step away at the end of March, and he’s being replaced by three new studio heads who will take over Insomniac moving forward.

After more than 30 years at Insomniac Games, CEO Ted Price has announced his retirement from the video game industry. He’ll officially leave the company at the end of March and will be succeeded by a trio of co-heads.