Chief executive of gaming giant Nintendo, Satoru Iwata passed away after suffering of cancer at the age of 55. The Kyoto based firm informed in a statement that the recent death of the CEO could affect the turnaround plan of the company.
Iwata was responsible for Nintendo’s development in to the global industry as it introduced the hit Wii home console and the DS handheld console for the upcoming touch-screen generation. The CEO announced about his illness in 2014 and did not attend the firm’s shareholder meeting in June 2014. However at that time the intensity of his illness was not known.
Iwata continued to be the face of the company in recent times as he announced the financial results in May 2015. The CEO had then informed that a growth was seen in his bile duct and that it was detected early as he had no symptoms. Iwata was appointed as a programmer and took the top post at Nintendo in 2002 just two years after joining the firm.
CEO Satoru was earlier criticized when he refused to license some of the company’s well known brands for use on mobile applications. There was a time when shares of Wii U fell 0.51 percent when Iwata said that he would slash his salary by half for several months to balance the downturn of the company.