Technology Square Enix's CEO steps down amid major gaming changes

Square Enix’s CEO steps down amid major gaming changes

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Square Enix has announced that it will replace its president and CEO Yosuke Matsuda, who is stepping down after many years.

He will be replaced by Takashi Kiryu, who is currently the chief strategy officer. This comes after the company has made heavy investments in blockchain technology.

The company said in a statement: “Under the rapid change of the business environment surrounding the entertainment industry, the proposed change is intended to reshape the management team with the aim of adopting ever-evolving technological innovations and enhancing the group’s creativity from the company to provide even more entertainment to its customers around the world.”

The change will take effect in June 2023, following the company’s annual shareholders’ meeting in May.

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Matsuda ran the company for a long time, but he also chaired one of the company’s largest retreats when he sold the company’s Western studios, such as Eidos Montreal, Crystal Dynamics Square Enix Montreal, to Embracer Group for $300 million. That meant he got rid of properties like Tomb Raider and then focused on an expansion into blockchain games. Square Enix also released the critically panned Forspoken title.

Despite a crash in cryptocurrency with the FTX meltdown and an accompanying price drop for non-fungible tokens, Matsuda issued another letter in January saying the company would continue to invest in cryptocurrency.

Kiryu, 48, has been with Square Enix since 2020 and became a director of Square Enix in May 2022.

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