Ram Mynampati in US, says Satyam spokespersonJanuary 12th, 2009 HYDERABAD - Former interim CEO of Satyam Computer Services Ram Mynampati is in the US, the company clarified Tuesday while denying reports that he had been arrested by Andhra Pradesh police. A Satyam spokesperson said Mynampati was meeting clients in the US and the reports of his arrest and interrogation were not true.
Clients standing by Satyam, says interim CEOJanuary 7th, 2009 HYDERABAD - Global clients of the beleaguered Satyam Computer Services will engage the scam-tainted IT bellwether for its software services, the company's interim chief executive Ram Mynampati said Thursday. 'We have received support from our key customers.
Tech Mahindra to announce 20 percent open offer for Satyam TuesdayApril 20th, 2009 HYDERABAD - Tech Mahindra, the new owner of scam-hit Satyam Computer Services, will announce an 'open offer' Tuesday to obtain an additional 20 percent stake in the software major, Satyam chairman Kiran Karnik said here Monday. Tech Mahindra, which deposited Rs.2,910 crore (Rs.29.1 billion) in an escrow account Monday for a 31 percent stake in Satyam, will see its total holding increase to 51 percent after the open offer.
Satyam directors, employees shocked over 'fraud' by RajusJanuary 6th, 2009 HYDERABAD - Directors of the beleaguered IT major Satyam Computers Wednesday expressed shock the admission of founder-chairman B. Ramalinga Raju to committing a fraud to the tune of Rs.40 billion (Rs.4,000 crore or $823 million) before he resigned, along with Managing Director Rama Raju.
Satyam chief financial officer Srinivas resignsJanuary 7th, 2009 HYDERABAD - Chief financial officer (CFO) Vadlamani Srinivas of the tainted Satyam Computer Services Ltd resigned from the IT bellwether a day after founder chairman B. Ramalinga Raju quit admitting to a massive financial fraud, a top company official said Thursday.
Besieged Satyam board to meet SaturdayJanuary 6th, 2009 HYDERABAD - The besieged board of Satyam Computer Services Ltd will meet Saturday to discuss the various issues that rocked the IT bellwether since the Maytas deal fiasco Dec 16, culminating in the dramatic resignation of its co-founders who admitted to a massive revenue fraud in the company over the years. 'The board will meet as re-scheduled on Jan 10 to discuss the issues related to the company’s operations and the fallout of today’s events and actions thereby,' Satyam interim CEO and whole-time director Ram Mynampati said in a statement here late Wednesday.
SEBI to interrogate Satyam Rajus againFebruary 8th, 2009 HYDERABAD - The Securities and Exchange Board of India (SEBI) may again interrogate disgraced founder of Satyam Computer Services B. Ramalinga Raju and his brother B.
Study: CEOs are not active enough in social networksJune 24th, 2009 Study: CEOs not doing enough on social networks
NEW YORK — A new study says top CEOs should do a better job managing their presence online, on social sites like Twitter and Facebook and even Wikipedia. Sharon Barclay, who runs the executive public-relations firm Blue Trumpet Group and the blog UberCEO, took Fortune's 2009 list of the top 100 CEOs and found what she calls a "miserable level of engagement" when it comes to social networks.
ISB dean Rao quits over Satyam fraudJanuary 7th, 2009 HYDERABAD - Mendu Rammohan Rao, dean of the prestigious International School of Business (ISB) here, Thursday resigned from his position in the wake of the financial fraud at Satyam Computers. He was a member of the Satyam board when the irregularities were committed.
Satyam hails government move to appoint new boardJanuary 9th, 2009 HYDERABAD - Scam-tainted IT bellwether Satyam Computer Services Ltd late Friday welcomed the central government's move to appoint 10 nominees as directors to replace the current board. 'We welcome this decision which will ensure uninterrupted operations and restore the confidence of all employees, customers and shareholders across the globe,' the Hyderabad-based company said in a statement.
Satyam executives to stay put despite massive fraudJanuary 7th, 2009 HYDERABAD - Ten top executives of the tainted Satyam Computer Services Ltd late Thursday pledged to remain with the company and work jointly to steer the IT bellwether, reeling under shocking disclosures of financial fraud by its founder chairman B. Ramalinga Raju.
Slashed pay, 'virtual' job for over 7,000 Satyam staffJune 11th, 2009 MUMBAI - Between 7,000 to 10,000 Satyam employees have been put in a virtual pool, continuing their association with the company but with reduced pay, the IT firm said in a regulatory statement Thursday. The virtual pool programme is an innovative way of retaining the excellent human assets of Satyam despite the difficult economic situation, chairman Kiran Karnik said in the statement.
Satyam scouting for strategic investor, says chief executiveJanuary 7th, 2009 HYDERABAD - The new management team of the tainted Satyam Computer Services is looking for a strategic investor to bail it out from the severe liquidity crisis it is facing in the wake of the financial fraud admitted by founder chairman B. Ramalinga Raju, the company said here Thursday.
Beleaguered Satyam forms crack team for fire-fightingJanuary 6th, 2009 HYDERABAD - Battered IT bellwether Satyam Computer Services Ltd Wednesday formed a crack team to run the day-to-day operations of the beleaguered company following the dramatic resignation of its founder-chairman and managing director from the board. In a letter to Satyam’s 53,000 employees, interim CEO and whole-time director Ram Mynampati said a ‘SWAT’ team consisting of senior leaders has been formed to steer the company through the current challenging phase.
Satyam's Raju to face market regulator SaturdayJanuary 8th, 2009 HYDERABAD - India's market regulator Friday summoned B. Ramalinga Raju, disgraced founder of Satyam Computer, to appear before it Saturday as it began a probe into his Rs.70-billion (Rs.7,000-crore) accounting fraud, even as the Andhra Pradesh police began an enquiry.
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