Mr Ketan Mehta has crated Majesco pretty much from nothing and he has been managing company for many years. He is not young anymore, so he might have thought of passing the baton to a professionally managed CEO- hence Mr Elster.
Generally Insurance deals take 12/18 months to materialize, so what deals which we are seeing, may not be initiated in Mr Elster’s tenure. However, next year will see how much improvements he brings to the business.
I reckon Majesco wanted US focused management hence they brought US based CEO and CFO. Slowly they are moving away from the India headquartered business towards US.