I hope this is just a rumour seen as he has a great relationship with sony. 

Link:  http://www.eurogamer.net/articles/2011-11-30-the-last-guardian-creator-fumito-ueda-leaves-sony-rumour

Ico, Shadow of the Colossus and The Last Guardian creator Fumito Ueda has left Sony, Eurogamer understands.

Japanese video game development sources indicated the 41-year-old is working on finishing oft-delayed PlayStation 3 exclusive The Last Guardian in a freelance capacity.

Ueda's departure from Sony internal development studio Team Ico is one of the reasons for the game's protracted development, Eurogamer was told.

Following the completion of the game, Ueda will embark on personal projects.

In September Sony reassured gamers that Team Ico was still "hard at work" on The Last Guardian, despite the high-profile PS3 exclusive missing the Tokyo Game Show.

The previous month SCE Studios president Shuhei Yoshida gave an exasperated-sounding Last Guardian progress update:

"It's been very difficult in terms of seeing the progress: not as fast as we'd been hoping for, and the team has been under big pressure," he said.

The Last Guardian was delayed earlier this year to an unspecified time in 2012. The cat-eagle adventure was originally slated for a "late 2011" release.

Ueda was director and lead designer on PlayStation 2 games Ico and Shadow of the Colossus, which both took four years to develop.

The Last Guardian was first mentioned as being in development over four years ago, in February 2007, by Japanese magazine Famitsu. It was eventually revealed at E3 2009 with an eye-catching trailer. However, it failed to show at E3 2011, Gamescom 2011 and Tokyo Game Show 2011.

Sony told Eurogamer it does not comment on rumour and speculation.

Doesn't really matter at this point. Assuming Last Guardian even sees the light of day, his next project wouldn't be ready until the midpoint of the Playstation 5's lifecycle.

/avatarquote

Sad for Sony if true, however perfectly understandable for him if he wants to do something else after 12+ years with the company.

In everyone's life they have a time where they will say: "Now i want to go in a different direction for a while".

So if true, best of luck for him with his new endeavours, if not true, ignore this entire post. :p

that would be a real shame if happens..hope its not true

I don't care whether or not he is employed by Sony, I just want to play his games, but tbh I don't know which other company would be willing to fund his very risky (artsy, long developement, niché) projects.

Hope not!! that would suck hard.

Serves him right for taking so damned long to make Last Guardian.

...You know I don't mean that, Fumito. Please go back.

Thus, TLG gets canned on 98% completion.
lol, kidding.

The man was incredibly talented, I hope (If this is true) he continues on gaming.
(coughgoestonintycough)

Well that would be a huge loss in my eyes for Sony although it obviously isn't a big loss financially. Hopefully Team Ico could continue on without him if that were to happen, although first off I'll just hope that it's not true.