Kennedy started with the company in 2012 while it was still owned by George Lucas and remained on board when Disney bought the company.
She led the charge to relaunch the franchise with the final trilogy based on mostly on the work of JJ Abrams and continued to lead the division through a series of movies and television shows.
Star Wars: Skeleton Crew just completing its run and Andor season 2 on the horizon. What it could mean for the franchise is hard to judge until a replacement is announced but likely whatever projects that are currently in the pipeline like The Mandalorian movie would remain so while projects still in their writing phase like half a dozen movie concepts would get a revisit.
Update: In an interview with Deadline, Kennedy confirmed stepping down from Lucasfilm is part of future plans but provided no timeline. My guess there were plans to do it soon but the leak is causing a bump to later date.
The truth is, and I want to just say loud and clear, I am not retiring. I will never retire from movies. I will die making movies. That is the first thing that’s important to say. I am not retiring. What’s happening at Lucasfilm is I have been talking for quite some time with both Bob and Alan about what eventual succession might look like. We have an amazing bench of people here, and we have every intention of making an announcement months or a year down the road. We are in lockstep as to what that’s going to be, and I am continuing. I’m producing the Mandalorian movie right now, and I’m also producing Shawn Levy’s movie, which is after that. So I’m continuing to stay at Lucasfilm and looking very thoughtfully with Bob and Alan as to who’s stepping in. So that is all underway, and we have every right to make that announcement when we want to make it.