And now, for his next trick...

Gearbox Software announced that the company's co-founder, Randy Pitchford, will step down as president. Only, he's not leaving Gearbox. Pitchford will still serve as the CEO and president of Gearbox parent company, Gearbox Entertainment, and will shift his focus towards leading the company's newly formed Gearbox Studios.

Taking his place as president of Gearbox Software will be the company's former chief technology officer Steve Jones. This now means that Jones will be in charge of the video game stuff at Gearbox while Pitchford will lead Gearbox Entertainment. Gearbox Studios is focused on the TV and film projects for the company. This includes stuff like the upcoming Borderlands movie.

In a tweet sent out by Pitchford, he states that he'll be responsible for "high level creative and business strategy." He will also serve as a "hybrid" chief creative officer when necessary. Jones will take the lead in production on Gearbox developed games, of which they apparently have "multiple AAA games" currently in development.

The next major release from Gearbox Software will be Tiny Tina's Wonderlands, which is slated for release in late March 2022.