Yoichi Wada: 'The huge loss was like a voice from the heavens'

Former Square Enix president Yoichi Wada says amid tough financial times, it was like a voice from above told him, "It's time to move on."

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Outgoing Square Enix president Yoichi Wada has commented on the situation surrounding his recent resignation from the Tomb Raider and Final Fantasy publisher. He said the "extraordinary loss" the publisher expects to see was "like a voice from the heavens" directing him to leave.

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"I, personally, would have liked to wait and hand over the firm when it is at its best. However, the huge loss was like a voice from the heavens telling me 'It's time to move on,'" he said in company documents published this week. "After given [sic] much thought, I have judged that it would be best to support the company in other ways as I hand over my roles and responsibilities. For this reason, I have decided to step down."

Replacing Wada as Square Enix president will be Yosuke Matsuda, the company's longtime chief financial officer. Wada said he believes Matsuda is the most eligible candidate to turn the company around. Doing so will involve "fundamental and drastic reforms in the organization," Wada said.

"In addition, I highly value his tough-mindedness, his ability to persistent in a logical manner, and make sound decisions," Wada said of Matsuda.

Wada also clarified his new status at Square Enix now that he is no longer president. He explained that he will leave Square Enix Holdings altogether, though he explained that it is his "duty" to "support the firm in my own ways."

"You might be wondering what role I will take in the company after I step down, so I will tell you before you ask me: I will be completely gone from Square Enix Holdings, I will no longer be the President, Director, nor a staff member of Square Enix Holdings," Wada said. "That means I will not have a say in the future management."

"However, I believe it is my duty as an employee to support the firm in my own ways, including exploiting new businesses, and to yield sound results and performances," he added. "Although I will step down from management, I will continue to work hard to give back to a company that granted me so much."

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