Square chief quits as Final Fantasy costs the virtual world
The Spirits Within, The President Without
SquareSoft of Japan has announced that the company’s President and Chief Executive Officer Hisashi Suzuki is to quit, following shockingly poor returns for Square’s film debut, Final Fantasy: The Spirits Within.
The news comes after Square, a company known to have somewhat angry shareholders, reported its worst ever half year loss: A previously unthinkable £75 million.
"The company's board accepted Suzuki's request to step down as they believed that it would be best for the company to conduct a speedy restructuring under a new leadership given the quickly changing environment in the game industry," the company said in a statement.
The decision was made by Suzuki following Square’s announcement of the final recoupment figures for the Stateside (non) success of the movie. It netted a paltry $30,000,000, well below the company’s projection of $90,000,000.
The news comes after Square, a company known to have somewhat angry shareholders, reported its worst ever half year loss: A previously unthinkable £75 million.
"The company's board accepted Suzuki's request to step down as they believed that it would be best for the company to conduct a speedy restructuring under a new leadership given the quickly changing environment in the game industry," the company said in a statement.
The decision was made by Suzuki following Square’s announcement of the final recoupment figures for the Stateside (non) success of the movie. It netted a paltry $30,000,000, well below the company’s projection of $90,000,000.
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