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New Management For New Satyam!
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Satyam Computer Services, re-branded as Mahindra Satyam, gets a new CEO in C. P. Gurnani and a CFO in S. Durgashankar. Also Mahindra Satyam will merge with Tech Mahindra at some stage, says Vineet Nayyar.
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Wednesday, June 24, 2009:
In a top-level shuffle, C. P. Gurnani, head of global operations of Tech Mahindra, has been appointed as the new chief executive officer (CEO) of Mahindra Satyam (formerly Satyam Computer Services). Gurnani replaces A. S. Murthy who took charge of the beleaguered IT firm after the Government appointed a new board to salvage Satyam. Also Subramaniam Durgashankar, earlier heading the mergers and acquisitions (M&A) cell of Mahindra & Mahindra, has become the new chief financial officer (CFO) of Mahindra Satyam. Meanwhile, Sanjay Kalra — who was president (strategic initiatives) at Tech Mahindra — was appointed the CEO of Tech Mahindra.
Vineet Nayyar has now become executive vice chairman for both Tech Mahindra and Mahindra Satyam.
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Kiran Karnik will remain the chairman of Mahindra Satyam.
At a press conference held on Tuesday, Vineet Nayyar said the Mahindra Group, the new owner of Satyam Computer Services and the largest shareholder in Tech Mahindra, will merge the two companies at some stage, giving shape to its ambitions in the IT business. The Economic Times quoted Nayyar as saying, “Yes, the two companies will merge and not only because its logical, but also there are a lot of synergies between us. I can’t give a definite date as to when it will happen, but I can say it could be in the foreseeable future.”
Both Mahindra Satyam and Tech Mahindra will reportedly exist under the Mahindra group umbrella, but will act as one entity. Nayyar is expected to oversee the governance and integrated functioning of the two firms.
The biggest challenge, Nayyar says, is to get Mahindra Satyam back on the growth path.
Speaking on the new appointments, Anand Mahindra, chairman, Tech Mahindra Limited, stated, “I am delighted to announce the appointment of Vineet Nayyar as the executive vice chairman for Tech Mahindra and Mahindra Satyam, and the induction of Sanjay Kalra and C. P. Gurnani as the respective CEOs of Tech Mahindra and Mahindra Satyam. These executive appointments will help the respective companies leverage their immense global experience across different verticals, in their quest to take an unassailable lead.”
“Both CP and Sanjay are accomplished leaders, with extensive experience in managing global business operations. In their executive roles, they will ensure swift and effective execution of the go to market strategy envisaged by both organisations,” commented Nayyar.
Nayyar added, “I would like to thank A. S. Murthy for his outstanding leadership and wise counsel during a most difficult time. His efforts have been vital to the company’s recovery, and he will continue to play a crucial role on Mahindra Satyam’s leadership team.”
Sanjay Kalra commented, “Tech Mahindra’s single focus and innovation in the telecom ecosystem has served us well to date and made us a leader in the domain. We will continue to serve our clients and partners with new solutions and offerings. We are excited about Mahindra Satyam’s capabilities and will synergise them with Tech Mahindra’s proven governance practices, financial rigour and business discipline.”
According to sources, Kalra heading Tech Mahindra was an obvious choice, as he handles the BT account, which contributes for more than 60 per cent of Tech Mahindra’s revenue.
C. P. Gurnani, commenting on his appointment, said “Mahindra Satyam has four immediate priorities: to strengthen corporate governance, enhance customer delight, regain market share and build the brand. I am delighted to have the opportunity to lead the organisation toward those objectives, and I am confident we will succeed. We have a clear vision, world-class leadership, the industry’s most talented professionals, ample resources and an unswerving drive to succeed.”
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