Majesco, one of the fastest-growing publishers of interactive entertainment software, today announced the appointment of long-time board member Steve Race as Chief Executive Officer. An accomplished executive with more than 25 years of top-level management experience across a diverse section of consumer product and service industries, Mr. Race will spearhead Majesco’s overall growth strategy including worldwide publishing and distribution, as well as product and license acquisition.

"Steve brings an unparalleled understanding of the interactive entertainment industry from both the software and hardware perspective," said Jesse Sutton, president of Majesco. "We are delighted to have a person of his extraordinary talent and expertise join our management team."

Mr. Race joins Majesco after heading up his own consultancy where he worked with several prominent private equity groups within the consumer goods sector. Before that, Race was CEO of MicroProse, Inc, a respected publisher and developer of award-winning PC games. Under his guidance, sales increased to $100 million in just three years.

Prior to his tenure at MicroProse, Race served as president of Sony Computer Entertainment America, where he was responsible for the development and launch of the PlayStation video game console throughout North America. One of the most successful product launches in history, sales of PlayStation game console exceeded more than one million units in North America during its first six months of availability.

Race has also held a variety of senior management positions at leading consumer goods and toy companies, including Reebok, Atari and Worlds of Wonder where, as executive vice president and Managing Director, he oversaw the launch of Teddy Ruxpin, the number one toy of 1985 and 1986.

Adds Mr. Race: "I’m thrilled to be joining such a respected and dynamic organization as Majesco. With a well-established distribution channel; a newly formed internal development studio, and an aggressive schedule of next-generation products, Majesco is ideally positioned for success."

Race succeeds Majesco’s founder, Morris Sutton, who assumes the role of Chairman of the Board for Majesco. Under Mr. Sutton’s guidance, Majesco has achieved combined sales in excess of $500 million to date, and has sold more than 40 million units of software.

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