Yoichi Wada, CEO of Square Enix since 2000, is resigning from the company and will be replaced by Yousuke Matsuda. Wada’s resignation follows the announcement that the company will lose 10 billion yen (roughly 105 million dollars) during this financial year. The loss will mainly be due to a reconstruction of the company. Square Enix has had slow sales with their recent titles, as of late.
During the reconstruction of the company, Square Enix will continue to produce their new Final Fantasy games: HD versions of Final Fantasy X and Final Fantasy X-2, and Final Fantasy XIII, as well as another Final Fantasy title which will be revealed at E3 2013. The company’s reconstruction will be further discussed during Square Enix’s 33rd annual general meeting of share holders, which will take place in June of this year.