Majesco names new CEO, co-chairmen and announces other restructuring

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Honig is a private investor and a specialist in corporate finance. He is a founder and former co-chairman of interClick, which was sold to Yahoo in 2011 for $280 million. He is also the former co-chairman of ChromaDex Corporation, and is a current director and the largest investor in Pershing Gold Corporation.

With his appointment announced alongside other indications of restructuring, including the company’s closing on $9.04 million previously held in an escrow account from prior subscription agreements with investors, Honig said the company has positioned itself for better returns on investment.

“With Majesco’s further enhanced strong balance sheet and reduced cost structure, I believe now is an opportune time to lead the company with total focus on creating value for shareholders,” he said in a prepared statement.

Along with Honig, John Stetson was named executive vice president and chief financial officer, while Michael Brauser joins Honig as co-chairman. In addition, Edward Karr and Andrew Kaplan were appointed as directors.