Nintendo Shareholders Re-Elect Company President Satoru Iwata and Executive Members
President Iwata and the other eight head executives of Nintendo are here to stay.
At Nintendo’s 74th Annual General Meeting of Shareholders in Kyoto, Japan, company president Satoru Iwata, Genyo Takeda, Shigeru Miyamoto, Tatsumi Kimishima, Shigeyuki Takahashi, Satoshi Yamato, Susumu Tanaka, Shinaya Takahashi and Hirokazu Shinshi were all re-elected, Polygon reports. This means that president Iwata, Mario creator Miyamoto and the seven other previous Nintendo executives will continue to run the Big N. One new candidate, Naoki Mizutani, was added to the board. Iwata, Miyamoto and Takeda were appointed to be the representative directors of Nintendo of Japan during a Board of Directors conference which was held immediately after the General Meeting of Shareholders. Reports from both meetings can be found on Nintendo of Japan’s website.
Recently, Iwata had to cancel his plans to attend E3 2014 due to health concerns. These health concerns stem from a bile duct growth which the Nintendo president recently and successfully had removed last week. With an operating loss of $456 million for the most recent fiscal year, Nintendo has reported its third annual loss in a row. While Wii U sales have slightly increased due to the release of Mario Kart 8 and will likely increase around Super Smash Bros.’s launch, we’re unsure whether or not Nintendo will be able to turn itself back around from this slump. Like its shareholders, we still believe in Miyamoto and Iwata.