Square Enix CEO Wada Resigns On Cusp Of "Extraordinary Losses"
I'm sorry, but did I just hear a few million giggles...? Oh, don't be so rude! ;)
According to a Polygon report, Square Enix President and CEO Yoichi Wada is resigning. Apparently, this is one of the company's first big steps toward "management reform."
Current representative director Yosuke Matsuda will replace Wada, but all this has to be finalized by a "resolution during the company's general meeting of shareholders this June, then later by a resolution from its board of directors." Wada's resignation comes hot on the heels of a consolidated results forecast which showed expectations of an "extraordinary loss" in the fiscal year ending March 31, 2013. It isn't the first time this generation that Square Enix would have suffered such a loss, and the company has started a "major restructuring." This move will result in an additional 10 billion yen (about $105 million) loss.
I suppose I could comment but really, what's there to say that hasn't already been said? The fans were right all along, Wada. They just were.
Thanks, Chris H.!
3/26/2013 10:18:38 AM Ben Dutka