No, Hidetaka Miyazaki isn’t leaving the company, but he is stepping completely away from the Souls series. He will no longer be actively involved in the development of the Dark Souls II title, even though he carries an extremely deep connection with the Souls series. Miyazaki will set the schedule for the development of Dark Souls II and do some very minor supervision… but that’s about it.
Two new directors have been appointed, first believed to be chosen by Miyazaki himself. However, it has come to light that the two new directors, Tomohiro Shibuya and Yui Tanimura were chosen by “FromSoftware and Namco Bandai as a whole.” Both had previously worked on FromSoftware’s mech-action series Another Century, which is targeted at Japanese audiences and hasn’t been released globally. This brings up the question as to whether Miyazaki is willingly stepping back from the Souls series or if he has been asked to step aside and allow the company and IP to move in a different direction.
Miyazaki has taken on another project which he hasn’t yet named.