Nexon has announced that CEO Owen Mahoney will be stepping down from the game publishing company after a decade at the helm, while Junghun Lee has been appointed to take on the leadership role.

Known for publishing popular titles like MapleStory, Blue Archive, and Vindictus, Nexon announced a leadership succession plan where the Board of Directors has unanimously nominated Junghun Lee to serve as the company’s next Representative Director, President, and CEO.

Meanwhile, current CEO Owen Mahoney will stand for re-election to Nexon’s board and assume the role of Senior Advisor, following a decade-long tenure that led to a significant period of growth and global expansion.

Owen Mahoney and Junghun Lee will continue to serve in their current positions until the succession has been formally approved following Nexon’s Annual General Meeting of Shareholders in March 2024 and subsequent appointment by the board.

Junghun Lee

Lee is currently serving as the CEO of Nexon Korea Corporation, a position he has taken over since January 2018.

As a veteran with two decades of experience, Lee brings along proven leadership and operational experience, allowing the company to achieve a 19% revenue CAGR from 2018 to 2022.

He led Nexon’s Live Operations teams between 2008 and 2017, sustaining and growing the publisher’s known franchises, and during his tenure, multiple successful titles were launched including MapleStory M, Dungeon & Fighter Mobile, Blue Archive, and DAVE THE DIVER.

“I am honored and excited to lead the company into its next generation,” said Junghun Lee.

“Our strong base of live Virtual World franchises has shown unprecedented growth and stability, our global team of operators and developers is world-class, and our demonstrated commitment to innovation in new game development as well as technology sets us up for a new generation of growth worldwide.”

“This leadership transition comes at a time when Nexon is both stable and positioned for 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.”

Owen Mahoney

Having joined Nexon in 2010 as CFO, Mahoney oversaw the company’s 2011 IPO and then led the company as President and CEO since 2014.

Under his leadership, the publisher saw consistent growth in revenue and operating income, as well as the most robust pipeline in the company’s history.

Additionally, in the third quarter of 2023, Nexon posted its sixth consecutive quarter of double-digit year-over-year revenue growth.

“Leading Nexon for the last 10 years has been enormously satisfying, and with the company on such solid footing, now is the perfect time to hand over the reins to Junghun,” said Owen Mahoney.

“Nexon has never been stronger and has significant tailwinds.”

And, our commitment to corporate governance means we have an extremely strong bench of leaders for the next generation.”

“Junghun Lee is one of the most effective and successful executives in the entire global entertainment business, and the perfect leader for the next generation of Nexon’s growth.”