Nintendo's board of directors has announced on Monday that Tatsumi Kimishima is the new president after the sudden death of its former chief executive officer.

According to PC World, former Nintendo President Satoru Iwata passed away on Saturday at age 55 due to a bile duct growth. He was a computer programmer and represented as the soul of the Japanese company because he worked as a president for 13 years, a transitional period of video gaming industry.

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Kimishima is a former banker for nearly three decades. He is also a long time managing director of the company after spending seven years as chief executive officer of Nintendo of America.  He is also Nintendo's Pokemon boss in 2000.  And he will now be the representative director at Nintendo's home office in Japan starting this Wednesday.

On Monday in the press briefing in Osaka, Japan, he said that "there will be no change in President Iwata's fundamental objectives and strategies" (Business Insider). Super Mario Bros creator Shigeru Miyamoto will still be in charge of software and "Punch-Out!!" creator Genyo Takeda will still be the leader of software. Both will still carry the same title as Kimishima and are listed as fellows that will advice and guide in the operations especially in a highly specialized area that requires advanced knowledge and expertise.

The company was disappointed with the holiday sales of the Wii U and 3DS. This made the company reluctant in the past on mobile gaming. But Nintendo will still proceed as planned since Iwata's announcement was already made on March 17, months before his passing, that there will be a partnership with Tokyo-based mobile content company DeNA.

Nintendo will be launching a couple of mobile video game titles within the next two years. They will also bring some of the iconic Nintendo characters to smart devices. Meanwhile, as hyperactive plumber Mario of Super Mario Bros celebrates his 30th anniversary on Sunday in Tokyo, "Yoshi's Wooly World" will be launched on Oct. 16 for Wii U game console.

TagsTatsumi Kimishima, Nintendo, Nintendo CEO, Nintendo new president, president change for Nintendo