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Vivek Paul quits TPG: Will he run Satyam?
By siliconindia
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Saturday, 07 February 2009, 22:43 IST |
9 Comments
Bangalore: Vivek Paul, former vice chairman of Wipro, has quit the private equity firm Texas Pacific Group (TPG), where he was a partner. Paul reportedly quit the firm in late December. TPG has $50 billion under its management.
After Paul has put in his papers, he has become the cynosure of all eyes in the Industry as his name is doing the rounds as next CEO of the beleaguered Satyam Computer Services. The market rumor has it that Paul would be interested in buying a stake in Satyam from institutions. However none of these could be verified.
Paul was considered as a possible buyer for Satyam after the botched attempt on December 16 by its now-disgraced promoter to acquire two firms run by his own family.
The new Satyam board has already made it clear that its immediate priority will be to appoint an experienced person as the company CEO.
Prior to TPG, Paul, 50, joined Wipro in 1999 and led the company from a $150 million revenue firm to a billion dollar giant in about six years. He left Wipro as vice chairman in 2005 to join TPG. A BITS Pilani graduate and an MBA from University of Massachusetts, Paul has also run GE's Global Computerized Tomography business, reporting directly to the current Chairman of GE.
