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Satoru Iwata Re-Elected as Nintendo President

| 28 Jun 2014 05:15
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Iwata, Miyamoto, and others will retain their respective positions at Nintendo for now.

At Nintendo's annual shareholder meeting, president Satoru Iwata was re-elected as the company's president by the board of directors. Other top-level executives, such as Shigeru Miyamoto, also retained their respective positions. The news should come as a relief to Iwata, who was actually unable to attend the meeting himself due to some health issues that have plagued him since E3.

There were concerns that Iwata might lose his position this year, as his approval rating has been steadily declining from its all time high of 92.9% in 2011, down to just 77.3% last year.

Nintendo also posted record losses for the last financial year, and Iwata has repeatedly apologized for several missteps made by the company, going so far as to give himself a 50% pay cut as a result.

However, a very strong E3 presence, combined with very strong Mario Kart 8 sales, may have been just the push the shareholders needed to regain their confidence in Iwata.

Source: Nintendo Japan via Polygon

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