Satoru Iwata, the company's chief of corporate planning, has been appointed Yamauchi's successor. Prior to joining Nintendo in 2000, Iwata was president of Hal Laboratory, where he coordinated software development and production of several Nintendo games, including the Kirby
series. Iwata begins his tenure as Nintendo president on May 31. Executive Vice President Atsushi Asada will become chairman.
Yamauchi's retirement was long expected, and the news did not affect Nintendo's share price. Yamauchi will retain the title of adviser to the company but will not be part of the top management team.