Satyam Computer Services today said its top leaders have pledged to remain in the company and work jointly to steer the organisation even after the shocking disclosures by its founder and chairman Ramalinga Raju of financial irregularities.
Ten of the most senior executives of Satyam, including interim CEO Ram Mynampati, gathered at its headquarters in Hyderabad, have collectively committed not to resign from the company which has approximately 53,000 associates. Approximately 40 other top managers from various geographical regions – known as the leadership council – have also given their commitment to remain in the company.
The top 10 leaders, include Ram Mynampati, interim CEO, Subu D Subramanian, head (manufacturing and automotive), TR Anand, head (telecommunications, infrastructure, media and entertainment and semiconductors), Keshab Panda, head (Europe, energy and utilities), Virender Aggarwal, head (Asia-Pacific, India, West Asia, Africa), Manish Mehta, head (SAP and testing practices), AS Murthy, head (global delivery and global leadership development), Murali Venkataramani, head (commercial), Hari Thalapalli, head (marketing) and SV Krishnan, head (human rrsources).
“The pledges of commitment from these leaders, coming hours after disclosures and the resignation of Raju, underscore the unity and determination of the Satyam leadership to steer the company through this crisis,” the eight leaders said in a joint statement today.
“Satyam is facing a major crisis in which the unity and clear strategic direction of its top leadership are of paramount importance. This collective commitment will serve to significantly assuage concerns of various stakeholders in a highly fluid and challenging situation,” the leaders added.
The company will hold a press conference at 5 pm today in Hyderabad to outline an action plan to address key concerns of various stakeholders including customers, investors, employees and business partners.