President of Square Enix America Steps Down

Mike Fischer, the president of Square Enix America, resigned Thursday morning, just two months after CEO Yoichi Wada stepped down. Fischer took over leadership of Square Enix America in July 2010 and had intended to focus the company’s efforts on smaller more experimental projects, such as Quantum Conundrum and finally getting around to organising his desk.

Unfortunately, Square Enix have faced some financial difficulties in the last year, announcing significant losses during their most recent fiscal quarter. Despite being relatively successful, large studio games such as Tomb Raider and Sleeping Dogs played a large part in the company’s financial woes. Though well received by critics and players alike, the games did not reach Square Enix’s enormous and unrealistic financial goals.

Fischer, who worked at Namco, Sega,pr and Microsoft, will now be the vice president of digital Music and Video for Amazon in Japan. It’s unclear how Square Enix plans to pull themselves out of this financial slump but lets hope they get desperate enough to bang out some remakes of Final Fantasy 5-7 before they bugger off.