Square Enix's Yoichi Wada Is Stepping Down

Square Enix announced overnight that its president Yoichi Wada is stepping down. He will no longer be serving as Square Enix's Representative Director. Yousuke Matsuda, who joined Square in 2001, will take over Wada's role in running the company.

The reason given for Wada's demotion was "a management reorganisation". According to Japanese website 4Gamer, there's no word on what's next for Wada. This comes as Square Enix is forecasting an "extraordinary loss" in its next financial statement.

The changeover is slated to go into effect starting in late June.

Update: According to a supplementary statement Square Enix released, Yoichi Wada is receiving a 60 per cent pay cut in his salary starting this April. This is due to the company's poor performance. What's more, after stepping down in June, president Wada will not be reappointed to Board of Directors.

It's worth noting that Matsuda, who is replacing Wada, is getting a 40 per cent pay cut. Oh, and a promotion.

スクウェア・エニックスの和田洋一氏が代表取締役社長を退任 [4Gamer]


Comments

    All i know is, before this guy was around you could expect Square to make great JRPG games in the main numbered FF series every 1-2 years. After this guy was on board it takes them half a decade in between games that are lukewarm at best upon release. No competent CEO could watch the productivity of a company slide like that, do nothing about it and still have a job.

    The only great thing that happened under this guy's watch was that Square is now focusing on the publishing side of their business.

      Nailed it.

      I wonder how much money has been pissed away on that famous piece of vapour ware, FFXIII Versus, under his tenure? Where are the PSX gen FF remakes fans (customers!) want? Why make a 3rd game of a series (FFXIII) that hasn't performed all that well, nor is very fun to play? Where the hell is the western localized version of Bravely Default?

      He is responsible for what Square have turned into today, a pretentious. bloated, inefficient, and for me, a loathed company. I want the Square of old back, they made engaging and fun games. At least the Dragon Quest name hasn't been raped and ruined.... much.

      Atlus has become the new Square in my eyes.

      Not fair to blame him for that - Square's merger with Enix, the departure of Sakaguchi and general issues in Japanese game development all have a major part in it as well. It's more like he was given the wheel to a ship that was already taking on water.

        He was the CEO, he had complete control of the company, and the buck stopped with him.

    I hope square dies and they are forced to sell off IP's, that is the only way anyone will ever get a final fantasy game worth the sodding name (Not to sodding EA either, they deserve to die just as much)

    This entire generation square has been a joke. How can you sell (only physical) 3.6 million copies of tomb raider in 3 weeks and still not be making a profit? How fucking shit are they at managing their financies, when hitman and sleeping dogs both sold over 3 million in physical copies (probably another million each in digital too boot) and yet still be losing money from them as well.

    A games crash needs to hurry up and destory the current system or something because this is seriously wrong when a title sells the most in its history and is still a commercial "failure" for its company (cough tomb raider) due to ridiculous over budget costs.

      You seriously hope that thousands of hardworking passionate game developers lose their jobs and the IPs which we love are given to the highest bidder who will do anything in their power to make the most return on the profit with little regard for the fan base or respect for the original?

    If they made me the new CEO I'd do a FF7 remake then swim around in pools of money when it's the highest selling game ever. That would make the old CEO look like a chump. None of this we won't remake it till we surpass it garbage. Every artist peaks and Squares was in the mid 90s in my RPG loving opinion.

Join the discussion!

Trending Stories Right Now