Majesco interim CEO and chairman steps down

The revolving door that has been the publisher's management team in 2006 turns again, this time with departing executive's son taking the reins, also on an interim basis.

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This year continues to be a tumultuous one for publisher Majesco's upper-level management, as this week the company announced that its interim CEO and chairman of the board Morris Sutton has resigned those positions. Replacing Sutton in the role of interim CEO is his son Jesse Sutton, the company's president. The elder Sutton will once again become the company's chairman emeritus and work on sales and distribution for the publisher of games like Jaws Unleashed, Psychonauts, and BloodRayne.

Morris Sutton came under fire from his own shareholders in March, when a group with nearly 11 percent ownership in the publisher threatened to sue the company, accusing Sutton of ignoring his duty to the shareholders and running the company solely for the benefit of himself and his sons, Jesse and Joseph, the latter being the company's executive vice president of research and development.

"Jesse and Joey Sutton do little to further [Majesco's] business and strategic objectives and have been placed in such high-paying positions of management as a result of Morris Sutton's selfish desire to compensate his own children at the expense of [Majesco] and its shareholders," the group alleged.

This was not the first time the Sutton brothers caused friction for the company. In February, two members of the Majesco board of directors quit the company, explaining in their resignation letters that Morris would not commit to staying with the company if the board of directors insisted that he fire "certain other members of the Sutton family employed by the company." The departing board members explained that Morris' participation in the company was crucial to its success, so they would rather step down to keep him around than force the firing of his relatives and have him quit in retaliation.

After the pair of board members resigned, Jesse and Joseph resigned from the board of directors (then reduced to three people) to ensure that a majority of the board was made up of independent directors. The company has since brought on additional independent board members, and Jesse this week received a reappointment to the board, along with his new title as interim CEO.

Earlier this month, the company's executive vice president of global sales, Dick Wnuk, resigned his post in the company (but stayed on in a consultancy role). Last month saw the resignation of board member Steven Weinstein, who had only been a member of the company's board of directors since April.

Morris Sutton was named the interim CEO in February. His nearly six-month term in the interim position didn't quite match that of his noninterim predecessor, Carl Yankowski. After taking the role of CEO in August 2004, Yankowski stepped down in July of 2005 as Majesco sharply downgraded its financial outlook, losing the company more than 50 percent of its share value in a single day.

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    Avatar image for faridmon
    faridmon

    well, they made my favourite 2D fighting game into crap for my DS, (Guilty Gear Dust Strikers), i hope they all go to hell (no offense though).

    Avatar image for _Sam_
    _Sam_

    interesting

    Avatar image for TintedChimes
    TintedChimes

    Right on SOG! Psychonauts was pretty fun but it would have probably been a marketing disaster. But I still agree with you.

    Avatar image for Fallout_red
    Fallout_red

    Well spoken S_o_G. %100 agreed.

    Avatar image for Guidochua
    Guidochua

    what's all the Sutton this and Sutton that?

    Avatar image for S_o_G
    S_o_G

    Would seem more likely to me that its the entire company thats at fault and not just a few people. what else can explain the creation of a 2 great games Psychonauts and Advent Rising. Psychonauts failed in sales because of near to no Advertising. Advent rising failed because of stupid advertising such as 1 million dollar sweepstakes...ect and in the end that contest failed because it was implimented so badly. Advent rising was a good game to a point but didn't deserve the millions of dollars of advertising it received. Psychonauts should have received that advetising.

    Avatar image for metdevthegamer
    metdevthegamer

    Very intriguing. I'd like to see how this effects future developments of Majesco.

    Avatar image for ramiz_kkk12
    ramiz_kkk12

    thank,s a lot , for this Good news , i Hope verily to produce the Bloodrayny Game in the PSP

    Avatar image for Pastehunter
    Pastehunter

    Yeah , they destroyed all there promissing title for the PSP : Blodreyne , B&W creatures , Advent Shadows , and they promoted that crap Dinosaur game for the DS , they deserve it .

    Avatar image for CitizenKang_666
    CitizenKang_666

    This news might be interesting if Majesco had a few GOOD games under it's belt. (Yeah, Psychonauts was alright If you look past the collect-a-thon that makes up the bulk of the game)

    Avatar image for LinkErdrich
    LinkErdrich

    No surprises here seeing how poorly they've done this past couple of years. TOo bad they didn't hype Psychonauts like they hyped Advent Rising. Talk about a missed oppurtunity there.

    Avatar image for sahilpatelbc
    sahilpatelbc

    To bad, they are a great company.

    Avatar image for FRoStYisGoD
    FRoStYisGoD

    yeh there games dont seem very good at all

    Avatar image for -BC-Soldier91
    -BC-Soldier91

    To bad, they are a great company.

    Avatar image for trekker1303
    trekker1303

    This is too bad. Psychonauts was an awesome game. Advent Rising was the big dissapointment for them. I would take the reins of the company for them and could probably do a better job. Also, isn't nepotism illegal in the business world?

    Avatar image for comthitnuong
    comthitnuong

    they werent really making any games i liked

    Avatar image for valspar0075
    valspar0075

    Not a big deal. Majesco really did not have that many good titles. They had a chance to do something good with the bloodrayne franchise and screwed that up with the second game.

    Avatar image for dukerav
    dukerav

    Wow you havent heard of Majesco? Anyway Im beginning to wonder if maybe or not the writing is on the wall so to speak for them.

    Avatar image for Deagler_
    Deagler_

    "GET YOURSELF A BASEBALL BAT" great line from yesterdays HotSpot lmao

    Avatar image for SquallLeonVIII
    SquallLeonVIII

    Never heard of Majesco until today and I looked at some of the games and they are not very good.

    Avatar image for neoand12
    neoand12

    m0zart and only Psychonauts...Majesco is not that good.

    Avatar image for m0zart
    m0zart

    dEaThAwAiTs013 said: It's not like any good games come from them anyway, so it doesn't matter. Uhm... Psychonauts was awesome!

    Avatar image for dEaThAwAiTs013
    dEaThAwAiTs013

    It's not like any good games come from them anyway, so it doesn't matter.

    Avatar image for John_of_Fire
    John_of_Fire

    Wow this company really looks to be in bad shape. They were publishing such good stuff too. I hope they can pull it together.

    Avatar image for link_623
    link_623

    interesting..

    Avatar image for ConManWithGun
    ConManWithGun

    maybe thell make good games now