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Katie O'Brien

Nintendo CEO and President Dies

CEO and President of Nintendo (TYO: 7974), Satoru Iwata, died Saturday, according to The Verge. Reports said the cause of death was bile duct growth. Last year, Iwata was treated for, and had a tumor removed of which he took time off for last year. 

Iwata took over as CEO and President in 2002 in the footsteps of Nintendo pioneer Hiroshi Yamauchi in 2002, The Verge reported, and made significant contributions to the success of Wii and Nintendo DS. He was 55 years old. 

Genyo Takeda and Shigeru Miyamoto, senior executives at Nintendo will take over Iwata for now, however have not yet named a permanent successor. "I am surprised at this sudden news and overcome with sadness," Miyamoto said, according to The Verge

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