Square Enix CEO Yoichi Wada was announced as stepping down from his position by a statement from the company. Wada joined Square Co in 2000 and was a major part of the restructure following the merger with Enix in 2003. As-of June, 2013, Wada will be stepping down as CEO and Yosuke Matsuda will be taking over his position. Matsuda has worked at Square Enix since 2001 (though he was an employee for a short period in 1998). Previously, he has served as CFO for the company, and before that as the acting Director of TAITO Corporation.
Yoichi Wada will be taking a 60% pay cut starting in April, and Matsuda will be taking a 40% pay cut from his current position as part of the deal.