Alongside releasing their latest financial earnings report, Nintendo announced that company president Tatsumi Kimishima is set to step down from his position and enter retirement. Kimishima’s term as company president was certainly a short one compared to past Nintendo presidents. His predecessor, the late Satoru Iwata, spent over a decade leading Nintendo, and Iwata’s predecessor, Hiroshi Yamauchi, directed the company for even longer. However, since Kimishima became president in 2015, Nintendo’s made numerous major strides that include launch of the Nintendo Switch and critically-acclaimed sales successes like Super Mario Odyssey and The Legend of Zelda: Breath of the Wild. It may be due the sturdy groundwork Iwata laid, but Kimishima’s importance cannot be understated. Shuntaro Furukawa, who currently runs Nintendo’s global marketing department, will step in as Kimishima’s successor. Like Iwata, he’ll be entering the job at a relatively young age: 46. Furukuwa’s a big contrast from Kimishima, who recently turned 68. Furukawa gave a press conference today, noting his vision for the company. Thanks to Bloomberg, we have excerpts from his speech. I grew up playing the Famicom and come from that generation. Now as a member of management with Super Mario’s creator Shigeru Miyamoto, I have a lot of respect for him. On the other hand, with this new job that can’t just be it, so I expect to say what needs to be said to run the company. Kimishima will continue as president until June 28, 2018. Furukawa will then be stepping in after.