Nexon CEO Owen Mahoney to retire after a decade at the helm

Nexon CEO Owen Mahoney is departing the South Korean publisher after a decade at the helm.

The company is best known for publishing MapleStory, developing Dungeon & Fighter, and more recently developing smaller titles like KartRider: Drift and Dave the Diver through its various subsidiaries.

It has also worked with the likes of EA and Valve to bring franchises such as EA Sports FC (formerly FIFA Mobile), Titanfall, and Counter-Strike to new platforms and markets.

Mahoney intends to retire as representative director, president, and CEO in March 2024 and will be replaced by company director Junghun Lee. He will, however, remain with Nexon as a director and senior advisor to the CEO.

Lee has been with Nexon since May 2003 and is currently serving as CEO of Nexon Korea, the company's largest subsidiary.

As noted by Nexon in a press release announcing the change, Lee spent years overseeing Nexon's live operations team to sustain and grow some of the company's biggest franchises.

"Under his leadership, Nexon Korea achieved 19 percent revenue CAGR1 from 2018 to 2022. Also at Mr. Lee's direction, Nexon has successfully launched multiple new products including Dungeon & Fighter Mobile, MapleStory M, Blue Archive and more recently, Dave the Diver," continues the press release.

Mahoney said leading Nexon for 10 years has been "enormously satisfying," but felt it was time to let somebody else take charge with the publisher on "solid footing."

"Nexon has never been stronger and has significant tail winds. And, our commitment to corporate governance means we have an extremely strong bench of leaders for the next generation," added Mahoney.

As for how Lee intends to lead Nexon forward, the incoming CEO suggested the company is well positioned to deliver "dynamic growth."

"Our global franchises are delivering steady revenue which we have invested in a powerful pipeline of new games in development that have potential to become global hits," he said.

Nexon intends to announce Lee's replacement as Nexon Korea chief exec in the near future.