Square Enix CEO Yoichi Wada resigns, Yosuke Matsuda moves in

Square Enix CEO Yoichi Wada resigns

Everyone’s favorite Japanese CEO, Yoichi Wada, has resigned from his position at former RPG giant Square Enix. This comes immediately after an investor update stating that the company expects “extraordinary losses” as it reorganizes its business plan. The losses are predicted primarily due to slow sales of major console game titles in North American and European markets. Furthermore, the mobile and arcade market are also considered to be underperforming. Square Enix expects to lose about 10 million yen in its reforms. Yosuke Matsuda the new CEO was expected to take Wada’s position in June 2013, but Wada has stepped down to allow the reform to happen more easily. Yosuke Matsuda he joined Square Co. in 2001, shortly after Wada joined in 2000 . To a lot of people, this comes as good news because Wada’s business ideas were not always appreciated by fans. Particularly his firm stance on not remaking Final Fantasy VII despite fan and peer pressure. On the other hand, his firm belief was that current Final Fantasy games have not surpassed that title, claiming that re-releasing FF7 would destroy the franchise. He also led the company through it’s merger with Enix and it’s acquisition of Taito.Whichever way you spin it, big changes are coming for Square Enix.

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