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Nintendo shareholders vote to retain president Satoru Iwata and executives

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Nintendo president Satoru Iwata and eight head executives were re-elected at the company's 74th Annual General Meeting of Shareholders in Kyoto, Japan today.

The nine candidates Iwata, Genyo Takeda, game designer Shigeru Miyamoto, Tatsumi Kimishima, Shigeyuki Takahashi, Satoshi Yamato, Susumu Tanaka, Shinya Takahashi and Hirokazu Shinshi, were re-elected while one candidate, Mr. Naoki Mizutani, was elected. Iwata, Miyamoto and Takeda were appointed as representative directors at the meeting of the Board of Directors held after the shareholder meeting.

Iwata underwent surgery to deal with a growth that was found in his bile duct last week and had to sit out of the company's annual shareholders meeting as a result. Nintendo's president did not attend E3 2014 earlier this month due unspecified health issues that rendered him unable to travel to Los Angeles. Iwata has already resumed light business duties but a little more time is needed before he resumes his regular work schedule.

Last month, the company reported its third consecutive annual loss for its most recent fiscal year with an operating loss of $456 million. Iwata indicated in January that Nintendo was expecting that outcome. He said at the time that while he felt responsible for the company's poor financial performance, he would not be resigning and took a pay cut of 50 percent for the following five months.