"After more than two decades of helping build this incredible studio, establishing the Bungie Foundation and growing inspiring communities around our work, I have decided to pass the torch," Parsons shared in a statement on Bungie's website. "Today marks the right time for a new beginning. The future of Bungie will be in the hands of a new generation of leaders, and I am thrilled to announce that Justin Truman will be stepping into leadership as Bungie's new studio head."