Special Correspondent

I accept the opportunity with all humility, says Satyam’s new CEO

HYDERABAD: “This is a 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,” said A.S. Murty, the newly-appointed CEO of Satyam Computer.

He graduated in electrical engineering from the Regional Engineering College, Warangal, and completed his Masters degree from Indian Institute of Science, Bangalore in 1981. He worked for TCS before joining Satyam.

Homi Khsurokhan, on his appointment as an advisor to the Satyam Board, said: “Having led large organisations before, I expect this opportunity to be a singularly enriching experience and I look forward to contributing my might to this noble task.”

He retired as the Managing Director of Tata Chemicals in December 2008. Joining Tata Group in 2001, he also worked as MD of Tata Tea. He served Glaxo Laboratories (India) for 29 years and rose to becoming MD of Glaxo and Wellcome (India).

“Completing the complex financial restatement exercise including announcement of Q3 results and ensuring prudent financial operations will be the primary focus in the next few weeks,” said Partho S. Datta, another advisor to the Board. He will oversee the financial operations of the company.

Beginning his career as chartered accountant with Dunlop, Mr. Datta served as Chief Financial Officer (CFO) for a long time in Indian Aluminium Co. Ltd (Indal) and later as the Group Director of Finance of Murugappa group.

Key priorities

The Board, in its statement, said its key priorities included reaching out to key customers and associates to reinforce their confidence; asserting the financial position and restatement of Q3 results; evaluating long-term strategic options; assessing legal liabilities and dealing with them comprehensively; undertaking cost rationalisation measures and resuming investments in identified areas.