New Delhi: Satyam Computer Services has appointed AS Murthy as the new CEO of the beleaguered IT company. Murthy is an old timer at satyam and is currently the Global Business Head of the company. Along with this most awaited appointment, the Satyam Board has also announced two special advisors- Partho S Dutta and Homi Khusrokhan- who will work with Boston Consulting Group to smoothen out the day to day operations of the company.
Murthy will assume the responsibility with immediate effect, the company said in a statement after a two day meeting of its Board in Hyderabad.
Satyam has also received bank sanctions for 6 billion rupees towards working capital requirements. The statement also informed that January wages of employees had been paid while salary for two weeks of February had also been given from internal cash of the company.
The company said that funding and collections will help it tide over the financial crises even as it focuses on reporting the Q3 results.
Satyam is also undertaking cost rationalisation measures, the statement said.
Satyam came into the bad light after its founder-chairman Ramalinga Raju told his Board that he had cooked the company books for years, showing inflated profits.
this news published by www.breakingalert.blogspot.com
