CEO Yoichi Wada resigns from Square-Enix as part of the company’s reformation following their financial revision, which was published earlier today. Wada is going to be replaced by the current representative director, Yosuke Matsuda, scheduled to happen late June during an official meeting for shareholders, and later by Square’s Board of Directors.
Wada’s resignation followed Square-Enix’s release of their financial revision document of consolidated results forecasting “extraordinary loss” in the recent fiscal year’s ending this March 31, 2013. The publisher announced plans to start a major restructuring and reformation, expected to result in a loss of estimated 10 billion yen, which roughly equates to just a little over $105 million.
According to the report, ““Square-Enix Holding Co Ltd. (the “Company”) expects that the Company’s representative directors will change. Such change is subject to a resolution by its 33rd annual general meeting of shareholders to be held in late June, 2013, and a resolution by its board of directors meeting to be held after the said meeting of shareholders.”
The numbers found on the company’s report displayed abysmal figures, which have led to many project cancellations. Fans have been split on Wada’s management for the last decade, with some revering his decisions as wise from a business standpoint, while others feeling insulted by the company’s perceived “selfishness” for profitable gain. For much of Square’s supporters and Project Crystallis’s followers, the real question is how these reports factor into the future of the Final Fantasy series; specifically the campaign’s pursued titles, Final Fantasy Versus XIII and Final Fantasy Type-0.
With Final Fantasy X HD Remaster on the PS3 shipping with X-2 HD Remaster (which fans consider a great move), you might be thinking, “What’s going to happen next?” Tell us what you think in the comments section below.