Oh God, I hope not. Not because Reggie is american, that has nothing to do with it, but I don't really like the guy. Where Iwata always appeared sincere and genuinely enthusiastic about gaming, Reggie seems to be all about promotion and bullshit cororparate talk. Yes, he will dress up funny, and talk about having a little fun, but it seems like a facade to me. Also Iwata himself said it best, he was a gamer, a game developer, he loved what he was doing. Reggie is a businessman, plain and simple. Nothing illustrated that better than his smash performance at NC, I don't even play smash and even I could see Reggie doesn't either, he will do it though, for PRs sake.
Lastly and this is a little unfortiunate, but I don't think a traditionally japanese company is going to allow a foreigner at it's helm. Most of their game developement is centered in Japan, so is the majority of their business. Whoever is going to be their new president would have to be able to speak japanese and live in the country. Nintendo places a lot of priority on their home market and that's not about to change.
Add to that the unfortionate rumors of internalized racism against westerners that have recently surfaced about nintendo and you have a more than unlikely candidate in Reggie. No, there is no law stating an American can't helm the company, but I don't think it's going to happen.
For the record I don't think Myamoto is really suited either, I think he want's to keep his freedom to create games.
Whoever is going to be their new President, I hope it's going to be someone with a similar backround to Iwatas. We have enough gaming companies run by businessmen.
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