Expanded Satyam board to mull on new CEO
Securing the interests of employees, customers and investors is expected to remain key as the expanded board of fraud-hit Satyam Computer Services, with six members, holds its first meeting in Hyderabad on Saturday.india Updated: Jan 16, 2009 21:04 IST
Securing the interests of employees, customers and investors is expected to remain key as the expanded board of fraud-hit Satyam Computer Services, with six members, holds its first meeting in Hyderabad on Saturday.
The board may take a call on the appointment of managing director, chief executive officer of the company as restive Satyam workers, numbering 53,000, await a sense of direction.
“Our collective endeavour is to help find solutions to extremely difficult challenges facing the company and the priority is, as other board members have said, to safeguard the interest of employees, customers and investors," said Tarun Das, chief mentor, Confederation of Indian Industries, who was appointed to the board on Thursday.
The government on Thursday also named Life Insurance Corp nominee S.B. Mainak and chartered accountant TN Manoharan to join HDFC chairman Deepak Parekh, National Stock Exchange board member C. Achuthan and former president of software association Nasscom, Kiran Karnik on the board.
The initial three-member board appointed by the government after the disbanding of a board led by deposed and disgraced chairman B. Ramalinga Raju met on Monday and named two auditors to revisit the fraud-hit accounts. KPMG and Deloitte, Haskins & Sells have already started the forensic audit of Satyam’s accounts.
First Published: Jan 16, 2009 21:03 IST