Iwata Won't Resign After Forecast Drop and Poor Sales

By Jorge Ba-oh 17.01.2014 8

Iwata Won

Despite a large drop in sales expectations and profits forecasts, Nintendo president Satoru Iwata won't resign.

In a Nikkei report, the Nintendo boss apologised to shareholders for the company's performance over the last year, in particular with the less-than-expected sales for the latest home console, Wii U.

He noted how as the president of Nintendo, he feels responsibility for the poor business performance, and the key goal is to bring the company back up to scratch.

Despite hints that he may resign in the past if targets weren't met, Iwata pledged today that he'll remain in office to help Nintendo through.

What are your thoughts - should Iwata stay or go?

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JoshSL is offline. JoshSL 17.01.2014#1

Iwata gave Nintendo their most successful and wealthy years in the company's long history so it makes sense that he stays for now. He has the ability to overturn things in a pinch but his position probably can't take many more huge trip ups like this, so he'd better double-over his efforts to better understand the Japanese and especially Western markets.

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J4K is offline. J4K 17.01.2014#2

Kinda mixed on Iwata. On one hand, he's brought Nintendo a ton of prosperity with the DS, Wii, and 3DS. On the other hand, I think a lot of the blame for the Wii U situation is at his feet. That said, I think a CEO who's had as much success as he's had deserves the chance to set things right.

Not sure what to think about 3DS missing its target. Was Nintendo just too optimistic? Because the thing was the best selling gaming device of 2013, has a solid asking price, a model for just about anyone, and the best games library in the business right now. Doing all those things and still missing its target makes me wonder if Nintendo just overestimated the strength of the gaming market as a whole right now.

 
JoshSL is offline. JoshSL 17.01.2014#3

I think Nintendo failed to realise how much the phone/tablet is dominating what is usually "the handheld market". Sony's getting practically none of that pie, it's hit both Nintendo and Sony where they thought they'd be relatively untouchable.

They'll probably be re-evaluating their position alongside the phone/tablet market, doing some things to combat it i.e. giving the 3DS more apps or more things to do on the go, but otherwise they may just have to hang in there and continue on the "affordable handheld with great games" route. The fact the 3DS is still standing up strong as a traditional gaming platform in a market where most of its usual audience is now buying phones instead is very impressive all the same.

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Mush is offline. Mush 17.01.2014#4

I think it's very admirable and honourable for a CEO to take the blame and admit they've done something wrong. Don't see why people hate on Iwata so much, I think he's a great leader. Hopefully this has opened his eyes and made him think "Okay, I've done wrong. Now, how can I do this thing better?" It certainly sounds like this is what's happening anyway, which is a good thing.

Now you just need better marketing and advertising. Global advertisements, social media as well as television.

 
JoshSL is offline. JoshSL 17.01.2014#5

He cleaned up someone's else's mess before (after being the first person outside a traditionally family-run business to become president no less) with astronomical results (GC->Wii) so I'm sure he's capable of cleaning up his own mess hahaha.

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, is offline. , 17.01.2014#6

Also I sense a a lot the thought that your in control for your succes, which is just often not true. Companies and leadership is seen very black and white, like win lose, when some periods its just surviving and not in your hands.
The succes of Wii is not just Nintendos accomplisment, they had had luck that it was also the right time, and that goes for every product. Its good to learn from your mistakes but bad to blame mistakes completely on yourself...and its just idiotic to think of firing someone who proved himself; so the next person comes in who doesnt make mistakes? Help someone, even executives arent just tools you throw away, do your best together. Really wild western style again to kill/fire everyone in troublesome times.

 
Canyarion is offline. Canyarion 18.01.2014#7

I don't think putting some new guy at the top would help the company right this moment. In general I think it's a bad idea to change management in difficult times.

He seems like a pretty humble guy, so let him work together with colleagues to fix this thing. Then if somebody wants to take over the reins in a few years, that's fine.

 
georg3 is offline. georg3 25.01.2014#8

Amidst a crisis such s this it would be a stupid idea to put a new boss in charge. Iwata has expreience whilst a new boss won't so Nintendo would be worse off placing a new boss in Iwata's place.

 

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