Satyam chairman seeks employees' support

BANGALORE, INDIA: Even as more and more directors are quitting Satyam Computer Services, following the Maytas takeover fiasco, chairman Ramalinga Raju on Tuesday asked employees to stand-by him.

“Please be assured that the board and the leadership team are doing everything possible to get Satyam back on track. We cannot do this without your help, however,” Raju told over 50,000 Satyam staffers through an email.

“I ask for your continued faith in Satyam and for your steadfast focus on your customers, especially in the face of wild speculation and unchecked rumor.”

In the letter he said the board “arrived at its decision to bid for Maytas by following all required processes and procedures, and while there was a spirited discussion among members, their vote to approve the motion was unanimous.”

Asserting that the customers continue to show a high level of trust in Satyam, Raju said the company has taken key steps to regain their confidence.

“These include strengthening the board by changing its size and composition, and engaging DSP Merrill Lynch to provide strategic advice and options," he added.

Raju also emphasized that “Satyam is completely committed to the IT services and BPO business, as we have been since our inception”. The board meeting of Satyam is scheduled to take place on January 10, 2009.