Price founded the Ratchet & Clank and Marvel's Spider-Man developer in 1994, and has led Insomniac for over 30 years.
Ted Price, longtime CEO of PlayStation studio Insomniac Games, is retiring from the games industry in March.
In a statement, Price explained he "felt it was simply time to step aside and let others pave the way for [the] team."
"Last week, I felt comfortable announcing to the Insomniac team that after having been incredibly fortunate to enjoy such a fulfilling career in games, I’ll be departing," he added.
Price founded Insomniac in 1994, when it was originally called Xstreme Software for its first year. After releasing its debut game, 1996's Disruptor, Insomniac went on to create several key franchises for the PlayStation brand, including Spyro the Dragon, Ratchet & Clank, and Marvel's Spider-Man. Sony fully acquired the studio for $229 million in 2019.
His exit is the latest high-profile departure for PlayStation. Sony Interactive Entertainment president Jim Ryan retired after his own 30-year tenure in March 2024, and fellow executive Shuhei Yoshida officially left the company in January 2025.
After Price leaves in March, Insomniac will be run by a trio of co-heads: CFO Jen Huang, brand/leadership head Ryan Schneider, and creative head Chad Dezern. All three have been with Insomniac for at least a decade or more. Price wrote that they were "intimately familiar with how we do things...and have earned people's trust."
"For many years, Chad, Jen and Ryan have been instrumental in making Insomniac what we are today," Price continued. "They’ve consistently demonstrated the kind of collaboration and transparency that’s part of our DNA. And just as important, their skillsets are truly complementary. [...] I’m confident that under the combined leadership of Chad, Jen and Ryan, Insomniac will continue to deliver the industry-defining games that players have come to expect from us…while making a positive and lasting impact on people’s lives for decades to come."
Speaking to the studio's future, Price said Insomniac is "fully focused on building games for our fans" after a challenging 2024, when the studio laid off workers and suffered the leak of staff information and details on future projects after being hacked. Despite that, he said the company "is in one of the strongest positions we’ve experienced in years, with each game in development looking beautiful and playing fantastic."
"I want to thank every Insomniac for having a positive and lasting impact on my life," concluded Price. "Working side by side with Insomniacs for so many years has been a gift that I’ll cherish for the rest of my days. [...] Thank you to Insomniacs, to our players and to videogames for 30 wonderful years."
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