Infinity Ward executives, Jason West and Vince Zampella, have walked away from the company, forcing Activision to go into damage control to appease investors worried it will affect their number one franchise, Call of Duty.
According to reports, everything is still on track for Treyarch's CoD update this year (rumoured to be based on Vietnam), while Infinity Ward are hard at work on DLC for Modern Warfare 2, however, newly formed Sledgehammer Games (made up of ex-Visceral heads) have been put in charge of "development on a Call of Duty game that will extend the franchise into the action-adventure genre", which you can take as you will.
An internal business team has been built to specifically handle the franchise also while Infinity Ward will now be headed up by Activision big wigs, Steve Pearce and Steve Ackrich. It has also been confirmed a new title will arrive in 2011 (which we knew would happen anyway), though there's no guarantee this will be delivered or handled by Infinity Ward.
Furthermore, steps have been made to attempt to bring the series to the burgeoning Asian market, which is rapidly embracing online multiplayer gaming - making it a good fit.