Former Square Enix president Yoichi Wada appointed company chairman

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Former Square Enix president Yoichi Wada is now serving as the firm's chairman of the board.

Games Industry reports Wada will stay on in the significant role for Square Enix, following his previously announced moves to step down as company president and CEO.

Wada's decision to step down was revealed in March alongside the publisher's significantly reduced financial forecast. Expectations were lowered by around $175m due to the poor performances of major console titles.

Wada was appointed as Square Enix president as a result of the 2003 merger between Square and Enix. Prior to the merger, he served as Square's CEO.