A few days ago, we learned that the Square Enix Japan site had listed former CEO Yoichi Wada as "Chairman of the Board."
This news elicited all sorts of moaning and groaning because even though Wada stepped down when the company suffered "extraordinary losses," the Chairman role sounded like a promotion of sorts. In other words, he'd still be making all sorts of important decisions, and that's really not what old-school Square fans wanted to hear.
But thankfully, the publisher has clarified Wada's new role , saying that he no longer has any role in the parent company, Square Enix Holdings Co. Here's a statement concerning Wada's position:
"Yoichi Wada has left the management of Square Enix Holdings Co., Ltd and no longer has any role in the parent company. Currently, he is overseeing a portion of the business within Square Enix Co., Ltd (Square Enix Tokyo), one of the subsidiaries of the parent company. These businesses include emerging markets as well as social and mobile businesses."
The statement finishes by saying that Wada "has no authority in terms of the management of the group." Well, that's that. If you've already forgotten, his replacement was former CFO Yosuke Matsuda. Cross your fingers that he does a better job in the future.