Miyamoto's role not changing - Nintendo

Nintendo shareholders may be able to breathe easier today, as Nintendo has offered reassurance that legendary designer Shigeru Miyamoto is remaining with the company in his existing role. In a recent interview, Miyamoto discussed "retiring" from his current position to create smaller, more personal projects for Nintendo.

Shortly after the publication of that news, Nintendo told Reuters that the report was the result of a misunderstanding. Today, Nintendo of America expanded on that sentiment.

"Video game designer Shigeru Miyamoto's role at Nintendo is not changing," the company said in a statement. "He will continue to be a driving force in Nintendo's development efforts. In discussing his priorities at Nintendo in a media interview, Mr. Miyamoto explained how he is encouraging the younger developers at the company to take more initiative and responsibility for developing software.

"He attempted to convey his priorities moving forward, inclusive of overseeing all video game development and ensuring the quality of all products. Mr. Miyamoto also discussed his desire to pursue fresh ideas and experiences of the kind that sparked his initial interest in video games."

Miyamoto's career stands alone in the gaming industry. The creator of iconic franchises like Mario, Donkey Kong, and Zelda received a lifetime achievement award from the Game Developers Choice Awards in 2007 and was the first inductee in the Academy of Arts and Sciences' Hall of Fame in 1998.