Having served the ESA for twelve years, Lowenstein will leave the trade body to launch a new association for members of the investment industry. The hunt for a new boss begins immediately.

"I have been honored to represent the amazing companies of the ESA, to serve as their advocate and to be part of an industry which is having such a profound and positive effect on our culture and the world of entertainment," said Lowenstein in a statement this morning.

"Like our industry, the ESA has grown and matured and is now stronger and more robust than ever before. The future of video games and its trade association is very bright indeed."

During Lowenstein’s reign, games industry revenues have grown from around $3 billion to over $10 billion. He joined what was then known as the Interactive Digital Software Association in 1994 before its name changed to the Entertainment Software Association in 2003, watching the firm grow from two founding members to the 32 it employs today.

ESA chairman and president of Microsoft’s entertainment and devices division Robbie Bach thanked Lowenstein for his service to the organization in saying:

"As the founding president of this organization, Doug built ESA into a very effective and influential trade association fully and articulately representing the interests of our members.  He leaves behind a tremendous record of accomplishments which provides us with the foundation for continued growth and success. We wish him well in his new role."