Why Owen Mahoney stepped down after a decade of success as Nexon’s CEO

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Owen Mahoney joined Nexon in 2010 as CFO, and he oversaw its initial public offering in 2011. He has led the company as president and CEO since 2014. Under his leadership, Nexon delivered consistent growth in revenue and operating income and the most robust pipeline in the company’s history.

So why is he stepping down? Nexon announced on November 11 that Mahoney will step down in March 2024 and be replaced by Junghun Lee, head of Nexon Korea and a board member.

Despite the fact Mahoney was a Westerner in charge of a company with its headquarters in Japan and much of its development staff in South Korea, Mahoney had a stellar record while running the company that is known for Dungeon & Fighter, MapleStory, Kart Rider on the PC and recent mobile hits like Dungeon&Fighter Mobile, MapleStory M, Blue Archive and Dave the Diver. During the most recent quarter, MapleStory grew 46% compared to a year ago.

Starting next March, Mahoney will stand for re-election to Nexon’s board and serve as senior advisor. Both Lee and Mahoney will serve in their current roles until the succession is formally approved. It will be interesting to see where this company, valued at $2 billion in the stock market, goes next.

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Here’s an edited transcript of our interview.

GamesBeat: Thanks for doing this interview. I was surprised to see you made this decision. I wonder why you did that at this time?

Mahoney: Well, personally for me, it’s just been