Nintendo President and CEO Satoru Iwata passes away at the age of 55

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Satoru Iwata, President of Nintendo Co., Ltd., poses after Nintendo's E3 presentation of their new Nintendo 3DS at the E3 Media & Business Summit in Los Angeles

Satoru Iwata, President and CEO of Nintendo, died on Saturday due to a bile duct growth at the age 0f 55.

Iwata was appointed president back in May 2002 and was the first chief executive to come from outside of the Yamauchi family, the family that founded the company in 1889 as a manufacturer of playing cards, according to the New York Times.

Nintendo released a statement:

nintendo release a statement for the death of Satoru Iwata