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If Mario Kart 8 and Smash fail to even restore Wii U to a decent sales level, I think it'd be understandable to get rid of him. He probably won't be gone anytime soon, though. He's hyping this reform of Nintendo for future generations..if those plans fail as well, that's when we'll probably see him step down.

 

Iwata's job isn't easy, who knows if there's anyone actually suited to take his place at the moment..or anyone willing. Miyamoto would not be a good replacement.