Following a meeting with Satyam's government-appointed board members on Monday, Tech Mahindra said at a press conference that CEO A.S. Murthy and President Ram Mynampati would continue to hold their current positions in the company.
Tech Mahindra also nominated four of its own men - Vineet Nayyar (vice-chairman, managing director and CEO of Tech Mahindra), Ulhas N .Yargop (director), Sanjay Kalra (president - strategic initiatives), and C.P. Gurnani (president - international operations) on the Satyam board, taking the total number of board members to ten (including the six appointed by the government).
However, the company is on the lookout for a Chief Financial Officer CFO), a post that fell vacant after the arrest of former Satyam CFO Vadlamani Srinivas, one of the key accused in the $1.5 billion accounting fraud.
"Under Tech Mahindra's plans, Satyam will continue to operate as a standalone unit and its leadership will continue to drive operations," it said on a statement issued after a meeting of the two companies to discuss transition plans.
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