In February 2014, Gearbox CEO Randy Pitchford stated that the studio was not yet working on a third installment in the franchise, stating that it would have to be "massive", but "we don't know what that is yet. We can imagine what it must achieve, but we don't know what it is yet."[6] However, at a panel during PAX South in January 2015, Pitchford announced that the studio was preparing to begin work on a new Borderlands game—which he described as "the big one", and began to offer a number of new staff openings related to the game. The game will be developed specifically for eighth-generation consoles such as Xbox One and PlayStation 4.[7][8]