Square Enix has explained Yoichi Wada's new position at the firm as its Chairman of the Board.
According to Joystiq, Wada left the management of Square Enix Holdings Co., Ltd and "no longer has any role in the parent company.
"Currently, he is overseeing a portion of the business within Square Enix Tokyo, one of the subsidiaries of the parent company," the statement given to the site reads. "These businesses include emerging markets as well as social and mobile businesses."
Wada's current title of Chairman for Square Enix Tokyo doe snot give him the right of representation for the company as he holds "no authority in terms of the management of the Group."
Wada left the CEO position in March and CFO Yosuke Matsuda took over the position.