Ten years after taking on the challenge of leading one of the world's premiere video game companies, Yosuke Matsuda will be stepping down as the CEO of Square Enix later this year. Matsuda will be replaced by a relative beginner in June, after it's approved by the shareholders.
The company confirmed Matsuda's departure to open the weekend, explaining the rationale behind the move by saying: Under the rapid change of business environment surrounding the entertainment industry, the proposed change is intended to reshape the management team with the goal of adopting ever evolving technological innovations and maximizing on the creativity of the Company's group in order to deliver even greater entertainment to its customers around the world. Square Enix isn't in the best place financially and in the eyes of the public. Final Fantasy 16 remains one of the most hyped current-gen games, while fans are looking forward to Final Fantasy VII Rebirth to come in Winter 2023
Unfortunately, we've seen the once illustrious studio come out with more misses to make up for the occasional hits in the past few years. This is reflected in the dwindling stock price of the company, resulting in last year's firesale of its Western subsidiaries to Embracer Group.