Square Enix plots fundamental company review

Square Enix plots fundamental company review
Craig Chapple

By Craig Chapple

April 3rd 2013 at 12:00PM

New president to 'thoroughly squeeze out' underperforming operations

Radical changes afoot as new Square Enix boss reveals plans

Major changes could soon be underway as Square Enix as the company’s new interim president lines up a fundamental review of its operations.

As translated by Siliconera, Yosuke Matsuda, who is to replace Yoichi Wada as president in June following the announcement of “extraordinary losses” at the publisher, said he would review all of the company’s duties, businesses and assets on a zero-based budgeting standpoint.

He promised to focus all of the publisher’s resources towards the firm’s most successful areas, while squeezing out parts of the business that are struggling.

Matsuda said a full plan on how to tackle Square Enix’s financial difficulties would be detailed at a briefing session in the near future.

“After having succeeded the important role as the president, I plan on reviewing all Square Enix duties, business and assets on a zero-based budgeting standpoint,” he said.

“Due to the radical change of environment, I’d like to fundamentally review what works and what doesn’t work for our company, then cast all of our resources towards extending what makes us successful and thoroughly squeezing out what doesn’t.

“As far as a concrete plan on what to expect from us, I will further explain it on another briefing session in the near future, so I kindly ask for your patience.”

As well as outlining what action the company is looking to take to battle revenue losses, Matsuda said he would be making Square Enix Europe CEO Phil Rogers the new director of Square Enix Holdings.

Yoichi Wada meanwhile is expected to stay at the publisher despite his resignation as company president, although it is not yet clear what position he will take.

“As an employee, I believe it is my duty to help the company and give proper results from it,” said Wada.

“I will be retiring from the line of management, but I plan to work on site as a way to pay my debt to the company.”