Troubled publisher THQ announced on Tuesday that Danny Bilson, the EVP of core games, has stepped down from his position, and Naughty Dog co-founder Jason Rubin (pictured) has been appointed as the company's new president.

In essence, Rubin has been tasked with turning THQ around as it faces its most severe financial troubles yet. He will be responsible for all of THQ's worldwide product development, marketing, and publishing operations, and will report to the company's existing chairman and CEO, Brian Farrell.

In addition to losing Bilson, THQ revealed that Dave Davis, the SVP of core studios, has also left the company. As part of the "core games" division of THQ, both Bilson and Davis helped lead the company's transition away from licensed titles and more toward major franchises like Saints Row, Darksiders, and more.

THQ says that with Rubin will help the company continue its shift toward AAA games, as the company's internal studios prepare upcoming titles such as Company of Heroes 2, Metro: Last Light, and Darksiders II.

He has quite a bit of work ahead of him, however, as the company has faced some grim financial circumstances over the past several months, particularly because it has struggled to recover from its ill-fated uDraw tablet.

Rubin originally co-founded Naughty Dog in 1986, and helped create major franchises like Crash Bandicoot, Jak & Daxter, and more. He left the company in 2004, and co-founded the online media company Flektor, which was acquired by Fox Media Interactive in 2007.