Gamespot reports that God of War III has been officially announced for the PS3 and is being developed in SCEA’s Santa Monica studio. However, this announcement comes along with news that Cory Bartlog, the game’s Directory, has left the company’s Santa Monica studio and , perhaps, the company altogether. There has been no official reason given for this, nor any reason given on his personal blog.

From the article:
Unfortunately, the God of War III announcement was tempered by some bittersweet news. SCEA has confirmed Barlog himself no longer works at the company’s Santa Monica studio. ‘We are grateful for his work and creative vision for the critically acclaimed God of War franchise,’ the company said in a brief statement in which it expressed faith in the remaining members of the GOWIII and God of War: Chains of Olympus teams.

From God of War II: