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I do not want him to go, but based on people's reactions on a wide spectrum I can see five reasons why they want him to leave:

1. Losses

2. Stubbornness (although honestly that might have more to do with the rest of the board as much or even more so than it has to do with Iwata; Nintendo is a Kyoto based company, companies in Kyoto are vey old and many are resistant to change)

3. Overestimating the power of the Wii and DS brand (Nintendo is not and does not have premium brands and it has never been a premium brand; it was big mistake thinking that 3DS and Wii U would just sell themselves at such high prices with so much competition in the consumer electronics market in general).

4. The entire Wii U situation: lack of software for the system's first year, priced too high for family market, not enough compelling titles and features to convince the typical teen - young adult male gamer to purchase (should not have even made this demographic the target), bad branding and lack of advertising from the beginning of the console's life (the name and the way they did not really explain the console in ads are two particular major offenders).

5. Misestimations on a wide scale