President of Nintendo, Satoru Iwata, dies at 55

Nintendo fans around the world are in mourning.

Satoru Iwata, the company’s president, has passed away at the age of 55, according to a statement issued by Nintendo. The cause of death was a bile duct tumor.

Iwata was named president of the company in 2002, when he succeeded Hiroshi Yamauchi.

Under Iwata, Nintendo cut ranks with other console makers, and sought to stretch the definition of “gamers.” He rolled out the popular Nintendo DS and Wii platforms, along with games that appealed to more casual fans.

Nintendo did not immediately announce a successor. The company said that two other executives — Genyo Takeda and Shigeru Miyamoto — would manage the company in the interim.

After opening higher on Monday, Nintendo shares trading in Tokyo quickly reversed course, losing 0.2%.