To say things have been disappointing for Nintendo lately could be viewed as a massive understatement.
The company is set to report fiscal loss for the third consecutive year, and there is growing pressure from the company’s board of directors that changes need to be made in order to turn the company around.
According to a source close to the situation, one of the changes could very well be the decision to elect a new company President when the annual General Meeting of Shareholders takes place this June.
Japanese magazine Nikkei first reported that Satoru Iwata, president of Nintendo since 2002, has seen his approval rating drop from 92.89% to 77.26% over the last three years as the company has seen its Wii U console flop commercially. The company is expected to report a loss of ¥35 billion for the fiscal year ending on March 31, 2014.
“There is a growing feeling inside the gaming circles that Iwata is heading for the door this year,” the source said. “Whether or not he can convince the board that he should remain in position remains to be seen.”
Iwata is expected to fight heavily to remain on as head of Nintendo and will not resign. If he leaves his position, it will be due to being outed by the board this June at the Shareholders meeting. No decision is expected to come before then, however.
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