Satyam top leaders pledge to stay with company
Satyam Computer Services Ltd announced that its top leaders have pledged to remain in the company and work jointly to steer the organisation during its worst crisis. Ashok Das reports. Satyam sinks | Anatomy of fraud | Listen-I | Listen-IIbusiness Updated: Jan 08, 2009 19:47 IST
Satyam Computer Services Limited announced on Thursday that its top leaders have pledged to remain in the company and work jointly to steer the organisation during its worst crisis, following shocking disclosures by its founder and chairman Mr Ramalinga Raju of financial irregularities.
Ten seniormost executives of the beleagured company led by interim CEO Ram Mynampati had a meeting this morning at Company`s headquarters in Hyderabad and "collectively committed not to resign from the company". 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 underscore the unity and determination of the Satyam leadership to steer the company through this crisis," a company release stated.
The company top bosses are scheduled to hold a press conference at 5 pm IST 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,” it further stated.
First Published: Jan 08, 2009 14:15 IST