Square Enix announced that he plans to replace the current president Yosuke Matsuda.

in notice to shareholders published today, Square Enix Holdings said it intends to replace Matsuda with relative Square Enix newcomer Takashi Kiryu, pending shareholder approval.

Approval will be proposed at the annual meeting of stockholders scheduled for June 2023, according to the filing.

If the transfer is approved, a board meeting will finalize the details.

Matsuda succeeded Square Enix’s previous president Yoichi Wada in 2013, and in recent years has talked about the company’s need to focus on blockchain games.

Based on Square Enix’s statement, it doesn’t look like those plans will change after Matsuda’s planned departure.

“With the rapidly changing business environment surrounding the entertainment industry, the proposed change aims to reorganize the management team to implement ever-evolving technological innovations and maximize the creativity of the company group to provide even more entertainment for people. its customers all over the world,” the message reads.

The proposed incoming president, Takashi Kiryu, 47, joined Square Enix in June 2020 as CEO of Corporate Planning.

Before that, he was the general manager Dentsu Innovation Initiativea research organization that focuses on “exploring new and disruptive technologies,” including blockchain and Web 3.0.

In a New Year’s letter discussing the company’s 2023 plan, Matsuda said Blockchain remains the biggest focus for Square Enix’s mid-term investment despite what he called “volatility” in the blockchain space in 2022.

Matsuda argued that the lessons learned and likely regulation could benefit the development of the blockchain industry and its plans to develop games based on the technology.

Square Enix was one of the first major publishers to announce support for “blockchain entertainment,” which takes the form of a digital ledger to effectively allow users to own, buy, and sell digital items.

The company is developing several blockchain games based on original IPs, some of which have already been announced and others are scheduled to be released this year.

“Blockchain has been the subject of hype and a source of turmoil, but with that in the rearview mirror, we expect blockchain gaming to enter a new phase of growth in 2023,” Matsuda wrote.