Friday, 6 February 2009

Satyam appoints insider CEO

(By Anthony Miller). Hmmm. Not a move I agree with. I am sure that Mr AS Murty, a 15-year “Satyamite” and previously head of the company’s Leadership Development Group, is a man good and true. But I would have liked to have seen an outsider in the top job so there can be no perceived taint from the ex-Raju leadership and, just as important, no embedded legacy Satyam culture. They need someone with an open, critical mind for this job. For the sake of Satyamites everywhere (it’s too late for investors!) I really hope the highly esteemed Mr Murty truly measures up. Satyam also announced it has secured around $130m in financing to fund short-term working capital. The clock is ticking.

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