PlayStation boss Jim Ryan is stepping down from the company, Sony announced Wednesday.

The Sony Interactive Entertainment President and CEO will be retiring in March 2024 after 30 years in the PlayStation business.

Sony Group Corporation president, COO and CFO Hiroki Totoki will assume the role of SIE chairman next month to "support" the transition, and will take over as interim CEO once Ryan retires.

Ryan joined SIE in 1994 and was appointed CEO in 2019. He had previously held senior positions at the company including president of SIE Europe, head of global sales and marketing at SIE and deputy president of SIE.

Ryan led the launch of the PlayStation 5, which the company said is PlayStation's most successful platform.

"I've found it increasingly difficult to reconcile living in Europe and working in North America," Ryan said in a statement. "I will leave having been privileged to work on products that have touched millions of lives across the world."