Roy Bahat announced his decision today in an email to employees at the San Francisco company, the Los Angeles Times reports. While he has decided to step down as president, Bahat said he would remain on IGN’s board. “It has become clear that now is the time to refresh the process of looking at strategic options for the business,” Bahat said in the email. News Corp. had been working for a year to bring in an outside investor to spin off the gaming property it acquired in 2005 for $680 million. After the protracted process failed to yield results, Bahat chose to step aside, the Times said. Meanwhile, David Martin, IGN’s CFO, will serve as acting president.