Riccitiello from EA and now Wada from SE have both 'resigned'.

Who could be the next on the cutting block?...any ideas?

Itawa or Reggie probably...

Awaiting someone to say Iwata or Reggie. It's obviously the answer you're expecting.

But perhaps the Ubisoft CEO.

He's already found a new job.

Iwata, Kaz or Ballmer are the ones under the most pressure. I think Ballmer will be the first to go. Nintendo will most likely right the ship in the coming year as 3DS makes money and Wii U picks up. Sony seems to have taken a good hold in the cell phone market, and both are benefiting from the falling yen. MS has some serious business problems and some internal cultural issues that are Ballmer's fault. I see him going soon. It would only take one product fail.

Wada resigned? hallelujah songs begins to play.

Nobody at Nintendo.

Iwata should stay, but Nintendo's board of directors needs a huge shake up. Too many old Japanese men on the board, no one with a Western perspective at all. Miyamoto should retire from the board too and just work on his own game projects. Stay out of the corporate decision making, that's just not what he's suited for.

Nintendo needs someone who's far more in touch with the modern market (especially in the West as Japan is a shrinking market) who also understands marketing. 

Iwata's powers should be reduced too, I don't believe in firing the guy or shaming him into resignation, but he has to take heat for screwing up two product launches in a row and losing basically all of the momenteum they had from 4-5 years ago with the exception of the 3DS in one market (Japan). That's not good enough. 

Hard to say. I can't say I'm sad to see any of these go, its certainly a lot better than the sacking of half a company or the developers who outright go bankrupt.
Leaders who do a poor job should go, simple as that.

I don't think Iwata will go though, not for a while anyway, they'll give him the benefit of the doubt for now to see if he can manage to steer the ship out of the straits.

M$ can only be saved once this man is gone.