By Suzanne Tindal, 9 February 2009 09:05
NEWS
Satyam's board has decided on a new chief executive.
The new head of the Indian outsourcer, effective immediately, is AS Murty. He has worked within Satyam for the last 15 years, most recently as chief delivery officer.
Deepak Parekh, a member of the Satyam Board, said: "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."
Satyam's abrupt need for a new leader resulted from the revelation that the past chairman and founder Ramalinga Raju had been inflating Satyam's earnings and assets by more than $1bn.
Murty said: "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... We will chart a precise and practical 30 to 60 to 90 day plan that will encompass and address the interests of all stakeholders."
Parekh said: "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 [Murty] has the required bandwidth and support."
The board also announced the appointment of two special advisors to the board to help in management and finance areas.
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