President Of Square Enix Stepping Down
It’s not hard to say that for the major publishers out there they have seen some better times. EA has been hit with backlash over the way it has developed and marketed its games, and its profits have suffered because of it. Square Enix is also having a rough time, as they’ve been suffering from lower-than-expected sales of many of their latest games, including Tomb Raider and Hitman: Absolution. These problems have cost Yoichi Wada, president of Square Enix as well as its representative director, his job, as it was announced yesterday that he is stepping down from those positions.
And when I’m talking about losses, I’m not talking about like a $3 or $4 million net-loss. Instead, according to Square Enix’s revised estimates the company is standing to lose about $138 million. It marks a hell of a turn around compared to last year, where the company made $63 million in profit. When you start getting losses like that, it’s only a matter of time before a company decides to restructure itself, starting from the top.
Yosuke Matsuda will be taking over for Wada as president. Wada, who was also on the Board of Directors, will not be reappointed to the Board after he steps down in June. It’ll be interesting to see what changes are in store for the company over the next year.
