"A Voice From The Heavens" Told Wada It Was Time To Go
And that "voice from the heavens?" It came in the form of "extraordinary losses" suffered by Square Enix.
In company documents published this week, the former president elaborated on his stepping down from the position of Square Enix president. And as it turns out, the huge losses suffered by his company were a clear sign that he needed to move on.
"I, personally, would have liked to wait and hand over the firm when it is at its best. However, the huge loss was like a voice from the heavens telling me 'It's time to move on.' After given [sic] much thought, I have judged that it would be best to support the company in other ways as I hand over my roles and responsibilities. For this reason, I have decided to step down."
Square Enix chief financial officer Yosuke Matsuda has replaced Wada, and the latter believes the new boss is the most qualified candidate to help turn the company around. But to do so will require "fundamental and drastic reforms in the organization." As for Wada, he says he will be "completely gone from Square Enix Holdings" but even so-
"...I believe it is my duty as an employee to support the firm in my own ways, including exploiting new businesses, and to yield sound results and performances," he added. "Although I will step down from management, I will continue to work hard to give back to a company that granted me so much."
Square Enix's biggest titles didn't perform well (at least, as far as company expectations were concerned) in the past six months or so, and that has led to the aforementioned losses. As for Wada, there are some Final Fantasy fans out there who are happy to see him leave.
4/9/2013 10:25:48 AM Ben Dutka