Satyam strong and safe, says Mahindra
Now that the uncertainty is over, and the Satyam Computer Services is on the
road to surge ahead, the chief of the Mahindra Group Mr.
Anand Mahindra has given his first statement after taking over the beleaguered company about a week ago.
Mr. Anand has firmly indicated his satisfaction in acquiring the fraud hit company, and said the financial health of Satyam will be taken care without any compromise. The company will run as a stand alone unit, and its present management would continue with minor changes, he asserted. He is confident that the new company will recover its past glory as an IT major and go will beyond expectation. Its viability factor is strong with good potential, he opines. In the first meeting he attended along with the six members of the government appointed board, he expressed his contentment with conviction. Though he did not rule out any job curtailment, but was sure to maintain its key staff members for running the unit smoothly. On retaining existing clients, as well as winning back those clients who left, is the hope he expressed.
Tech Mahindra’s CEO Mr.
Vineet Nayar, the architect of the deal, has disclosed that the new CFO will be appointed in coming days. In the beginning the company will go through a tight rope policy in terms of financial matters, he said.
Tech Mahindra has already deposited Rs. 2,910 crores in an escrow account for 31% stake of the company, and another 20% it will acquire in open offer as per the terms of the sale bidding. The present government appointed board of six members will continue till further orders from the Company Law Board (CLB). Tech Mahindra will induct up to four members in this current board, said Mr. Kiran Karnik, the chairman of the board.
The present board has given a list of 100 key members of Satyam which include Mr. Ram Mynampati, the interim CEO, who was appointed after the departure of Ramalinga Raju, the disgraced chairman.