Nintendo Co. made a major announcement regarding the company's future at a news conference in Osaka today, introducing Nintendo's new president to the world. The gaming industry giant is entrusting its future to Shuntaro Furukawa, who is taking over the company's presidency from Tatsumi Kimishima. This announcement was coupled alongside Nintendo's profit forecast reaching the highest it has been since 2010.

Furukawa is an industry veteran, but at just 46 years of age, he's 22 years younger than exiting president Kimishima. In what's being heralded as a savvy move on Nintendo's part, Furukawa appears to be the company's latest attempt to make its management younger. Furukawa takes over at an exciting time for Nintendo, with Nintendo Switch sales on pace for 20 million shipments by March 2019.

According to Bloomberg, Furukawa has been with Nintendo since 1994, has close ties to the Pokemon franchise, and played a key role in the development of the Nintendo Switch. That's quite the impressive pedigree, and its something that both Nintendo and Furukawa are banking on being alluring to potential investors. Furukawa is also fluent in English, meaning he could serve as a vital bridge between Nintendo and global investors at a key time in the Switch's development. At the news conference, Furukawa promised to remain true to what he believes defines Nintendo's presence in gaming:

"We will develop the company to its fullest...I will balance Nintendo's traditions: originality and flexibility."

Mario and Luigi in Smash Bros

Furukawa will not be taking over the presidency on his own, however. Three younger executives will also replace some of Nintendo's retiring senior managers. These new managers include Takashi Tezuka, who was part of a team designed to modernize Super Mario, and Yoshiaki Koizumi, another major player in developing the Switch. Furakawa also indicated he is ready to challenge the status quo at Nintendo during the conference, stating that he will "say what needs to be said to run the company."

This isn't the first time that Nintendo has done something shocking when it comes to management decisions. In 2002, Satoru Iwata, the man behind the massive release of the Nintendo Wii, became president when he was just 42. He ran the company until his death three years ago, and was responsible for many of the company's bolder design decisions. Now, with the Nintendo Switch already firmly entrenched as one of the must-have gaming devices of this generation, it will be interesting to see what kind of future Furukawa envisions for the console's lifespan.

More: Nintendo Switch Still Has Some Major Unannounced Games Coming This Year

Source: Bloomberg