Finally a CEO for Satyam
Ending weeks of search, suspense and speculation, A S Murty,
a Satyam veteran of 15 years was named the new CEO of the beleagured company on
Thursday. Homi Khusrokhan, former MD of Tata Chemicals and Partho Datta, former
CFO of Murugappa Group, who were tipped to be the CEO and CFO respectively were
simultaneously appointed as special advisors to the board to strengthen
management and financial areas. This obviously means that they will not be
members of the board.
Murty, who spent most part of his tenure in Satyam in the human resources
function, is known to have been extremely close to Ramalinga Raju. But unlike
many Raju favourites in the company, he is also much liked by the Satyam staff
who welcomed his annointment. "
A
His appointment will also take care of the son of the soil sentiment witnessed
in recent weeks," an insider conceded. In a press statement, board member
Deepak Parekh said that Murty " is well respected for his ability to
effectively integrate the team and enable a collective decision making- which
will be critical as Satyam moves into its revival phase."
Satyam on Thursday also appointed New York-based legal firm Wachtell, Lipton,
Rosen & Katzin to address various class action suits — numbering about a
dozen - filed against it in the
|