Satoru Iwata re-elected Nintendo President in face of loss

Chris Burns - Jun 27, 2014, 10:16am CDT
Satoru Iwata re-elected Nintendo President in face of loss

This week one “Election of Ten Directors” proposal was passed by the Nintendo board of directors, this including Satoru Iwata as Representative Director, Director, and President. This re-election comes in the face of several months of losses and a general less-than-fantastic outlook for the company throughout the last year.

It may very well be Nintendo’s high-powered showing at E3 2014 that made clear Iwata’s path to re-election for Nintendo. Even though Iwata was ill and unable to attend E3 2014 in person, Nintendo’s presentation saw high reviews and big surprises. The following trailer for Mii integration with the Wii U Super Smash Bros game is one clear example.

The 74th Annual General Meeting of Shareholders that re-elected Iwata also approved a Distribution of Surplus, believe it or not. In this case, this means that the year-end dividends for Nintendo’s fiscal season ending in March of 2014 were decided to be distributed as planned – 100 yen per share.

Two new Board of Auditors members were elected as well – Full-time Auditor Minoru Ueda and Full-time Auditor Ken Toyoda are now part of the board. Genyo Takeda retains his role as Senior Managing Director, while Shigeru Miyamoto retains his role as Senior Managing Director – and one new member of the general board was elected: Mr. Naoki Mizutani.

In other words – Nintendo’s investors are very clearly satisfied with where the company is going. We’ll see how they do through this next fiscal year!

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