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Satyam board meeting begins, new CEO likely tomorrow
By siliconindia
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Saturday, 07 February 2009, 22:25 IST |
3 Comments
Bangalore: A crucial Satyam board meeting is going on in Hyderabad to take decision on the appointments for top positions in the company and it is believed that the new CEO and CFO will be announced tomorrow. The board meeting is extended till Thursday.
As per the Satyam board had revealed earlier, it has received over 40 applications for the post of the CEO of which the board had shortlisted a few. It is said that Homi Khusrokhan, former MD of Tata Chemicals tops the shortlist. Earlier, Khusrokhan was invited to attend the last Satyam board meeting to understand the situation, and go deeper into the problems.
Satyam board is expected to avoid any top-level reshuffling in the company and wants to maintain the status quo for the time being as many of these senior members are busy persuading the clients to stay back.
According to highly placed sources, the delay in announcing much-awaited new names was primarily since the new Satyam board was seriously mulling the buyout options that emerged with the interest of numerous suitors in the company. The suitors include Larsen & Toubro and B K Modi-owned Spice group (both asking for management control), Mahindra & Mahindra, Hinduja group, Essar group (Aegis BPO), HCL Technologies, Tech Mahindra and iGate. Other unconfirmed names include that of Fijustu, Hitachi and IBM.
