John Hight, president of Wizards of the Coast, will be stepping down from his position effective September 1. The announcement comes from a U.S. Securities and Exchange Commission filing and follows two years of significant financial success for the Hasbro-owned company.
Hight joined Wizards of the Coast in 2024, taking over from Cynthia Williams. During his tenure, the company, known for Magic: The Gathering and Dungeons & Dragons, reported its most successful fiscal year in 2025, with revenue increasing by 45% year-over-year. Magic: The Gathering, in particular, has been a standout performer, achieving record annual revenues of $1.72 billion, a 59% increase from the previous year. The popular trading card game recently surpassed $500 million in quarterly revenue for the first time, contributing approximately 48% to Hasbro's quarterly earnings.
In a statement, Wizards of the Coast expressed gratitude for Hight's leadership and contributions, noting that he will remain with the company in an advisory capacity while pursuing other interests. The company assured that there is no impact on the business's strength, with both Magic: The Gathering and Dungeons & Dragons continuing to perform well. The upcoming 2027 video game slate, including titles like Exodus and Warlock, remains on track. Wizards of the Coast has initiated a search for Hight's successor.
The departure is surprising given the recent financial achievements and precedes the Dungeons & Dragons Vision Keynote at GenCon 2026, where future product announcements are anticipated. There is speculation that Hight's decision may be linked to a $56 million impairment charge the company incurred on its video game portfolio due to the cancellation of several upcoming titles. Hight, who has a background in the video game industry, was expected to bolster Wizards of the Coast's digital strategy. Currently, only one D&D video game, Warlock, remains confirmed in development.