Yoichi Wada resigns as CEO of Square Enix By Ehren Rivers on March 26, 2013 at 8:04 AM

Today, Square Enix CEO Yoichi Wada was announced as stepping down from his position by a statement from the company.  Wada joined the company in 2000, and was a major part of the restructure following the merger with Enix. It appears it is time yet again for a change in both management teams and overall structure for the company, but the process is not an expensive one.

The company estimates that the cost of these changes will hit them with a total loss of around 10 billion yen, which is about 105 million US dollars. Bear in mind that this is a loss for the fiscal year of April 1st 2012 to March 31st 2013, and that these losses appear to factor in the admittedly low sales of HD console titles of that year. The console titles were the Hitman HD Trilogy and Sleeping Dogs as far as we know, although Tomb Raider also seems to be falling a little short of the mark so far.

The source article can be found here, and the actual statement can be seen here.