If you follow the gaming industry in almost any serious manner, you likely know of Peter Molyneux and have played his games. You've probably experienced his work at Lionhead Studios, the company Molyneux founded after his time with Bullfrog (an earlier studio). Lionhead was responsible for franchises like Black & White and Fable. The studio was a subsidiary of Microsoft.

Today, as broken by Kotaku, Peter Molyneux announced that he will be leaving both Lionhead Studios and Microsoft as soon as work is done on the upcoming, Kinect-based Fable: The Journey.

That doesn't mean Molyneux is done with game creation. Not by a long-shot. Once his completely done with work at both Lionhead Studios and Microsoft, Molyneux will join a new studio. 22 Cans was recently started by Tim Rance, also formerly of Lionhead Studios.

While 22 Cans work has not been announced yet, we assume Rance and Molyneux will get back into the business of making video games. We hope they're just as ambitious as the work that made Lionhead famous.

Assuming control of Lionhead Studios in Molyneux's absence will be the company's co-founder, Mark Webley. Molyneux was also head of creative at Microsoft Studios Europe; Microsoft has not announced who they will be refilling that position with.

As more comes for both Lionhead Studios and 22 Cans, we'll have it.

[via Kotaku]