Nintendo of America president retires

Minoru Arakawa, president of Nintendo of America, has announced his retirement effective immediately. Tatsumi Kimishima, currently chief financial officer of The Pokémon Company and president of Pokémon USA, will succeed Arakawa in the role of NOA president. Arakawa did not elaborate on his future plans, only saying that the retirement will allow him to focus on new endeavors.

"The US video game industry is extremely strong and NOA's position within the industry has never been better," Arakawa said. "The recent impressive marketplace successes of both the Game Boy Advance and the Nintendo GameCube, coupled with NOA's unparalleled financial and management resources, allow me the opportunity to pursue new endeavors."

"Minoru Arakawa's significant contributions to the success of NOA and the development of the US video game industry are unequaled and widely acclaimed," said Howard Lincoln, NOA board member and current CEO of the Seattle Mariners. "Many of Arakawa's initiatives have become industry standards, largely responsible for the unprecedented strength of interactive entertainment today."

Arakawa was with Nintendo of America for 22 years.