Tatsumi Kimishima is Nintendo's new president

Nintendo has named a new president, and a successor to the late Satoru Iwata, who passed away earlier this year.

The Japanese company's new head will be Tatsumi Kimishima, the company wrote in a press release. Kimishima is no stranger to Nintendo – he was the company’s managing director, head of human resources, as well as chief financial officer (CFO) for the Pokemon Company.

Kimishima also served as the director of Nintendo of America, where he oversaw the introduction of the Wii console and more advanced handheld devices such as the 3DS.

Besides naming a new president, Nintendo has also introduced new “Fellow” roles, created to support the new head.

Genyo Takeda, creator of Punch-Out! and current general manager of Nintendo's research and development division has been appointed as a Technology Fellow. Shigeru Miyamoto, creator of Mario and currently general manager of the Entertainment & Analysis division, has taken up the role of Creative Fellow.

According to the release, a Fellow is "an individual selected from among the representative directors who has advanced knowledge and extensive experience." This person’s duties involve "providing advice and guidance regarding organisational operations in a specialised area."

Nintendo is facing tough times. Its latest creation, the Nintendo Wii U is having a tough time competing with PlayStation 4 and Xbox One, especially after the sales ban in China was lifted.

We do know that Nintendo is looking to enter the mobile gaming market, and that by the end of this year, it’s planning on releasing three games for the platform.