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Comic for: August 31st, 2006
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Gaming News: "Majesco Job Wheel"
Posted: Thursday August 31st, 2006 by

Majesco's Interim CEO and Chairman of the Board, Morris Sutton, resigned his positions earlier this week. Morris, again taking the role of chairman emeritus, will work in the area of sales and distribution. His son Jesse, the company's current president, will be stepping in as the interim CEO until Majesco's annual stockholder meeting in 2009.
Source: Gamasutra [ more info ]
Reading through Majesco's upper echelon turnover rate in recent years is ridiculous. It honestly looks like they play a corporate version of spin the bottle to decide who gets to fill which position and who's going to quite/resign next. Interestingly enough the game seems to center around the Sutton family's business yo-yo-ing.

Morris took over as interim CEO in February after his predecessor, Carl Yankowski resigned (taking 50% of the company's stock value with him) after only having been in the position for a little under a year himself. The same day two board members, James Haplin and Marc Weisman, resigned rather than demanding Sutton fire two of his relatives (presumably his sons) since Morris was more important to the company and would likely quit himself before he'd agree to fire "certain members of his family". Jesse and Joseph resigned their positions on the board a few days later to make sure that a majority of the board was made of independent directors. Majesco has since brought on additional independent board members, and Jesse has a received a reappointment to the board.

Morris got in trouble with his shareholders in March after a portion of them threated to sue him for shirking his duties to the shareholders and running the company solely to benefit himself and his sons.

That's not all though. Earlier this month the company's executive vice president of global sales, Dick Wnuk resigned. Steven Weinstein, resigned his position as a board member last month after having only been in the position since April.
Source: Gamespot [ more info ]
It's all so convoluted my skull is starting to hurt. But let me summarize so I don't feel like I've left you guys hanging:
Morris Sutton started Majesco. His sons hold key positions in the company, but they suck so much it's caused shareholders to threaten legal action and board members to resign. Now, one of the sons, Jesse, is serving as the interim CEO, while his brother, Jospeh, is the company's executive vice president of research and development.

Way to go Sutton family. Spin that wheel.

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