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Follow UsBANGALORE, INDIA: Satyam Computer Services, today announced the appointment of A.S.Murthy as new CEO of the company.
It also announced the appointment of Homi Khursokhan and Partho Datta as special advisors to the board, said a press release.
The board chaired by Achuthan, former presiding officer of Securities Appellate Tribunal and a board member, announced the appointment.
The special advisors along with Boston Consulting would work pro bono and will assist the newly named CEO and the board, in defining priorities and executing them, effectively.
“Murthy (ASM) is a Satyam veteran of 15 years, who has been in its forefront since January 1994. He brings to play a deep understanding of the organization, proven expertise in leading business unit, overseeing global delivery, nurturing customer relationships and spearheading the entire gamut of human resource function,” said Deepak Parekh, member of the board.
Prior to this post Murthy was associated as chief delivery officer, Satyam, were he was responsible for delivery excellence.
Murthy said, “ This is my unique opportunity to provide direction and guidance and I accept it with all humility. I have no misgivings about the enormity of the task in front of us, but together with my colleagues, I am confident we can accomplish the impossible.”
He added that they chart a precise and practical 30-60-90 day plan that would encompass and address the interests of all stake holders.
Khursokhan commented on his role: “Having led large organization before, I expect this opportunity to be singularly enriching experience and I look forward to contributing my might to this noble task.”
Before joining Satyam, Khursokhan was associated with Tata Chemicals as managing director and prior to that he was associated with Tata Tea as managing director, the release added.
Partho Datta joined Satyam from Murugappa Group, Chennai, where he was associated as group director, finance. He also served as member of group supervisory board.
Gets Rs 600 crore bank sanction
The board also confirmed another significant development, that it has received bank sanction for a total sum of Rs.600 crore as a planned fund infusion towards working capital requirements, the release said.
The funding is expected to save the company from it financial tide.
Datta added, “Completing the complex financial restatement exercise including announcement of Q3 results and ensuring prudent financial operations will be a primary focus in the next few weeks.”