Iwata on why Nintendo has shifted around management
“At the financial announcement of yesterday, we also announced the changes in the members of our board of directors. More specifically, our plans are for the four directors, including Mr. Mori and Mr. Hatano who are currently the representative directors, to retire when their term of office expires at the end of the Annual General Meeting of Shareholders this year, and for the five new directors to take office, as well as the promotion of one existing director.
We are not changing our overall business strategy, but already 11 years have passed since the current management structure was established in 2002. The planned changes this time aim to realize a generational change of our management structure. When these changes become effective, the average age of the board of directors will become 6.7 years younger than today.
For your information, as recovering the momentum in the overseas markets tops our priority list, we are planning to place our overseas operations under the direct control of the company president after this year’s Annual General Meeting of Shareholders. Under this new management structure, the company will make its utmost efforts to achieve the 100 billion yen operating profit in the current fiscal year.”