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New Satyam CEO to be selected by Friday

business Updated: Jan 22, 2009 18:58 IST

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The Satyam board will decide on the new chief executive officer (CEO) and chief financial officer (CFO) at its meeting in Hyderabad, industry and commerce minister Ashwani Kumar said in Bangalore on Thursday.

"The new board is meeting in Hyderabad today (Thursday) and tomorrow (Friday). It will finalise the names of the new CEO and CFO," Kumar told reporters on the margins of an industry conference.

"The first priority is to have a CEO. He should be a right man with right capacity and total credibility," Kumar said.

Satyam's newly-formed board Wednesday said it has received a large number of applications for the positions of the CEO and CFO.

"I have got 40 applications. We are in the process of finding good candidates," Deepak Parekh, a board member and chairman of the Housing Development Finance Corp (HDFC), told reporters in Mumbai. He did not elaborate.

A day earlier, the board had confirmed being "approached by potential buyers".