More Shake-Ups At Squaresoft

Following the corporate restructuring and the voluntary demotion of three top Squaresoft executives last February, current Squaresoft president and CEO Hisashi Suzuki has announced that he will resign his position in response to SquareSoft’s worst half-fiscal-year loss ever. Current Squaresoft chief operating officer Yuichi Wada will replace Suzuki as managing CEO on December 1st, but Suzuki will remain the company’s chairman.

SquareSoft reported a loss of 13.28 billion yen (about $107 million) for the six fiscal months that ended September 30th, and expect a fiscal year loss of 17.70 billion yen (about $143 million). Much of this loss is attributable to the poor performance of the Final Fantasy movie, which earned only a third of its anticipated revenue.

Source: GameSpot

Article courtesy of Darren A. Bills