Nintendo has made a decision to introduce an executive officer system and transition its business to a system with an audit and supervisory committee in a move which aims to let the firm "respond quickly and effectively to sudden changes" in the business environment, Nintendo president Tatsumi Kimishima has said.
Kimishima explains: "The intent of this transition is to create an audit and supervisory committee with a majority of external directors to strengthen the auditing and oversight over the Board of Directors and enhance our corporate governance."
He adds: "The purpose of introducing an executive officer system is to separate business decision-making and oversight from business execution, and to delegate authority for executing business.
"This clarifies the responsibility for business execution and enables us to create a flexible management system that can respond quickly and effectively to sudden changes in our business environment."
Nintendo expects the transition to take place once it has the "necessary changes to the company statutes approved at the general meeting of shareholders for the 76th fiscal term, to be held this year on June 29th".