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A S Murthy is Satyam’s new Chief Executive Officer

Hyderabad|India|February'2009: Satyam Computer Services Limited has said that its full Board met over two days (4th and 5th Feb 2009) along with their Advisors. This was the fifth meeting of the Board (in less than a month) and was chaired by Mr. Achuthan, former Presiding Officer of Securities Appellate Tribunal and Member of the Board.

The Board announced that it has appointed Mr. A.S. Murty as Satyam’s Chief Executive Officer, effective immediately.

“Mr. Murty (‘ASM’) is a Satyam veteran of 15 years, who has been in its forefront since Jan 1994. He brings to play a deep understanding of the organization, proven expertise in leading a Business Unit, overseeing Global Delivery, nurturing Customer relationships and spearheading the entire gamut of the Human Resources function. He 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.” said Mr. Deepak Parekh, Member of the Board.

“In our interactions over the past few weeks, we are convinced that Satyam needs an internal leader to steer it at this critical juncture and ASM has the required bandwidth and support.” added Mr. Parekh.
The Board also announced the appointment of Mr. Homi Khusrokhan and Mr. Partho Datta as Special Advisors to the Board, to assist in Management and Finance areas, respectively. The Special Advisors, along with Boston Consulting Group will work pro bono and will assist the newly named CEO and the Board, in defining priorities and executing them, effectively.

These decisions are aimed at quickly stabilizing Satyam. The organization has visibly increased its focus on business continuity for its customers and confidence building amongst its associates (employees) and vendors.

“This is a unique opportunity to provide direction and guidance and I accept it with all humility. I have no misgivings about the enormity of the task in front of us, but together with my colleagues, I am confident we can accomplish the impossible. I look forward to working very closely with the Board, our Advisors and all Satyamites – to restore Satyam to its well-deserved glory. We will chart a precise and practical 30 – 60 – 90 day plan that will encompass and address the interests of all stakeholders.” Mr. Murty said.

Reachout's News Bureau
 February' 2009

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