As of this morning, Yoichi Wada is no longer Square Enix CEO. After leading the company since the merger between Squaresoft and Enix, Wada san has resigned from his position today. Apparently Square Enix is set to post an “extraordinary loss” this quarter, forcing the former CEO take a step back and resign. Yosuke Matsuda is the new CEO of Square Enix, who has been working with Square Enix since 2001 as senior vice president: as of now, it looks like Matsuda is only going to be a temporary replacement.
It’s not a mystery that Square Enix is dealing with a lot of problems and Wada is definitely not the only one to blame. Development of current generation titles has been difficult, with some titles like Final Fantasy XIII taking way too much time and with others getting released in an almost incomplete form like Final Fantasy XIV. Some other projects may never see the light of day, like Final Fantasy Versus XIII, originally revealed in 2006 and still under development.
The company is also experiencing sluggish performance of its arcade machine business, making the situation even worse. Yoichi Wada has decided to resign to make way for management reform: let’s hope that Square Enix will go back being the great publisher it was a few years ago.