Satyam names new Chief Executive Officer
The government-appointed interim board of Satyam Computer Services on Thursday selected AS Murty as CEO. Murty, who is currently chief delivery officer, has been with Satyam since 1994. He will draw an annual salary of Rs 5crore.
The six-member board also announced the appointment of Tata Chemicals former MD Homi Khusrokhan and Murugappa group former CFO Partho Datta as special advisors to the board. As Datta will oversee the company’s financial operations, the board decided not to appoint a separate CFO at this juncture.
In a statement issued after its two-day meeting, the board also confirmed a sanction of Rs 600 crore to meet the company’s working capital requirements.Satyam has been staring at an acute shortage of cash ever since the dramatic disclosure on January 7of a Rs 7,800-crore accounting fraud by Satyam founder B Ramalinga Raju.
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The six-member board also announced the appointment of Tata Chemicals former MD Homi Khusrokhan and Murugappa group former CFO Partho Datta as special advisors to the board. As Datta will oversee the company’s financial operations, the board decided not to appoint a separate CFO at this juncture.
In a statement issued after its two-day meeting, the board also confirmed a sanction of Rs 600 crore to meet the company’s working capital requirements.Satyam has been staring at an acute shortage of cash ever since the dramatic disclosure on January 7of a Rs 7,800-crore accounting fraud by Satyam founder B Ramalinga Raju.
To read the full article, click here..
To read the ePaper, visit: http://epaper.financialexpress.com
Labels: accounting fraud, ata Chemicals former MD Homi Khusrokhan, CEO, government, interim board, New CEO, Satyam, Satyam board, Satyam Computer Services Ltd, Satyam founder B Ramalinga Raju
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