Nintendo's president of more than a half century will resign and be replaced by a 42 year-old board member at the end of this month, the company announced Friday.
Hiroshi Yamauchi, 74 year-old president of Nintendo, in Kyoto, Japan, took up his post in 1949. Under his regime, Nintendo contributed to the worldwide spread of household game consoles with its hit product, the Family Computer game console, first released in 1983, a Nintendo spokeswoman said.
As of May 31, Satoru Iwata will be the new president. Iwata is currently a member of the board and the head of the corporate planning unit of Nintendo. Yamauchi will remain as an advisor to the company.