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Incoming Square Enix boss plans fundamental company review

Current president Yoichi Wada to stay at the firm after stepping down in June

Incoming Square Enix president Yosuke Matsuda says he plans to thoroughly review the company's entire operations as he prepares to take over the hot seat at the Japanese publisher.

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Matsuda, who will officially take on the role currently held by Yoichi Wada when the latter steps down as president in June, said in a recent Square Enix briefing session (via Siliconera): "I plan on reviewing all Square Enix duties, business and assets on a zero-based budgeting standpoint.

"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."

He added: "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."

Matsuda intends to make current Square Enix Europe CEO Phil Rogers the new director of Square Enix, while Wada will remain at the company in a non-management role.

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

Meanwhile, Square Enix has confirmed it will cut jobs at its Los Angeles branch as part of the corporate restructuring at the company.

Last week, the publisher downwardly revised its earnings forecast for the business year ended March 31 2013, blaming "slow sales of major console game titles in North American and European markets", "sluggish performance of its arcade machine business", and an "extraordinary loss" of approximately ten billion yen (£70m / $106m) from its restructuring plans.

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