SquareSoft president and CEO resigns
SquareSoft has officially announced the resignation of their president and CEO, Hisashi Suzuki, after the report of the company’s worst half-fiscal year loss in history. SquareSoft reported a 13.28 billion yen ($107 million) loss for the half year ending September 30 and expects a 17.70 billion yen ($143 million) loss for the entire year. Current CEO Yuichi Wada will replace Suzuki on December 1 and will stay as the company’s chairman. The financial loss Square has suffered comes after a 700 million yen profit last year. The Final Fantasy film is the main reason for the loss and Square hopes sales of Final Fantasy X will bring the company closer to profit.
11/26/2001 Matt Stensrud