Nintendo CEO, Satoru Iwata has passed away at the age of 55 due to bile duct cancer with he has been fighting recently with surgery last year to remove the growth. Nintendo confirmed the news saying that Iwata had passed away on Saturday.
Nintendo Co., Ltd. deeply regrets to announce that President Satoru Iwata passed away on July 11, 2015, due to a bile duct growth
Iwata started off as a programmer at Nintendo’s HAL laboratory in the early 1980s and worked his way up to the top post at Nintendo in 2002. Iwata was at the head of the company through the launches of the GameCube, the Nintendo DS, 3DS, Wii and Wii U.
Investors appear to be unfazed by the news with shares jumping 4.48 percent to $166 per share.
Satoru Iwata opted to take half of his usual salary after the balance sheets at Nintendo took a downwards trend when the Wii U didn’t sell as well as expected and with mounting pressure from Sony and Microsoft and even mobile. Nintendo recently confirmed that they would be taking some steps into the mobile space with variants of their franchises designed specifically for the mobile player audience.
Iwata was a driving force behind the diversifying approach saying
The world is changing, so any company that is not coping with the change will fall into decline