Satyam’s top managers vow to stay to resolve crisis
08 Jan 2009
Hyderabad: Satyam Computer Services Limited today said its top leaders have pledged to remain with the battered company and work jointly to steer the organisation following shocking disclosures of financial irregularities by its founder and chairman, Ramalinga Raju .
Ten of the senior most executives at Satyam, including interim CEO Ram Mynampati, gathered at its headquarters in Hyderabad, have collectively committed not to resign from the company which has approximately 53,000 associates.
Approximately 40 other top managers from various geographical regions, known as the ''leadership council'' have also given their commitment to remain in the company.
''The pledges of commitment from these leaders, coming hours after disclosures and the resignation of Mr. Raju, underscore the unity and determination of the Satyam leadership to steer the company through this crisis,'' the eight leaders said in a joint statement.
The company will hold a press conference at 5 pm in Hyderabad to outline an action plan to address key concerns of various stakeholders including customers, investors, employees and business partners.
''Satyam is facing a major crisis in which the unity and clear strategic direction of its top leadership are of paramount importance. This collective commitment will serve to significantly assuage concerns of various stakeholders in a highly fluid and challenging situation,'' the leaders added.
The 10 top managers in the leadership team are:
- Ram Mynampati, interim CEO
- Subu D. Subramanian, head, manufacturing and automotive
- T R Anand, head, telecommunications, infrastructure, media & entertainment and semiconductors
- Keshab Panda, head, Europe, Energy and utilities
- Virender Aggarwal, head of Asia Pacific, India, Middle East, Africa
- Manish Mehta, head, SAP and testing practices
- A S Murthy, head, global delivery and global leadership development
- Murali Venkataramani, head, commercial
- Hari Thalapalli, head, marketing
- S V Krishnan, head, human resources