14 DAY TRIAL // Video game publisher Square Enix announces that its long-serving president Yoichi Wada is stepping down from his position as the company is facing a big loss for the current fiscal year and gets ready for a series of important internal reforms.
A statement sent to investors mentions that Wada is taking responsibility for the problems that Square Enix is facing at the moment.
He will be replaced by Yosuke Matsuda, who has previously served as president, and it seems that no new leadership role for Wada is being prepared.
Square Enix projected that it would post a profit of 3.5 billion Yen, which is about 26 million dollars (20 million Euro).
Now the publisher says that it will post a loss, most of it linked to the restructuring process.
Square Enix has just launched Tomb Raider, to critical and commercial success, and the company is getting ready to deliver a new Thief title and a slew of Final Fantasy products.