The board of Satyam Computer Services on Friday narrowed the shortlist for a chief executive officer (CEO) and chief financial officer (CFO) for the company to final three candidates.
To tide over the ongoing requirements for operational expenses, including salaries and vendor payments, the board also announced that additional funding arrangements were in the final stages of being concluded.
This is expected to be formally announced before January 28, and will address the company’s operational needs till the end of March, according to Deepak Parekh, chairman, HDFC, who is also a member of the board.
“The CEO would be qualified for leading the transition and will be a leader of global standing and recognition,” it said in a statement issued at the end of a two-day meeting in the company’s headquarters in Hyderabad.
Tarun Das, chief mentor, Confederation of Indian Industry, and also a Satyam board member chaired the meeting. The meeting is the third such in thirteen days since its reconstitution. The board is expected to meet again on Monday and Tuesday.
Commenting on the serious doubts raised regarding the head count in the company by investigating authorities, the board said that “prima facie, there appears to be no basis to doubt about the same. The independent investigation process is expected to reaffirm this fact, in the coming weeks,” it said.