Insomniac Games' CEO and founder, Ted Price, to step down after 30 years

Insomniac Games founder and CEO, Ted Price, is retiring later this year.

After acknowledging the devastating fires in Los Angeles, California - where Insomniac is based - and thanking colleagues who have "rallied to help others," Price confirmed he would be stepping down in March.

"As a result of the team's persistence and collaboration, we're in one of the strongest positions we've experienced in years, with each game in development looking beautiful and playing fantastic," Price said.

"After over 30 years of leading Insomniac, I felt it was simply time to step aside and let others pave the way for our team."

Chad Dezern, Ryan Schneider and Jen Huang will be stepping up as Insomniac Games' new co-studio heads when Price steps away from leading the studio after 30 years.

"There is no way that I would ever consider handing the reins to a team I didn't trust to take care of Insomniacs and lead us to even greater heights," Price added. "Chad, Jen and Ryan are that team.

"To conclude, Insomniac has been my life, my home away from home, for three decades.

"I want to thank every Insomniac for having a positive and lasting impact on my life," Price concluded. "Working side by side with Insomniacs for so many years has been a gift that I'll cherish for the rest of my days."