Mahindra Satyam appoints Vasant Krishnan as CFO

Mumbai, Feb 14 (PTI) Mahindra Satyam, a leading globalconsulting and IT services provider, today announced theappointment of Vasant Krishnan, as its new Chief FinancialOfficer effective March 1.

Krishnan is a Chartered Accountant with over 25-yearsexperience and presently with Mahindra & Mahindra Limited asSenior Vice-President.

He will come on board at Mahindra Satyam with effectfrom March 1 in place of S Durgashankar who will relocate toM&M, a press release issued here stated.

"On behalf of the Board of Directors of MahindraSatyam, I would like to place on record my sincereappreciation to Durgashankar for his outstanding contributionin bringing order to our financial system, in what wereprobably the most difficult and trying times in corporatehistory of India. His ability to motivate a distraught teamduring the crisis and complete the restatement of our accountsin a record time, speaks volumes of his efforts in rebuildingMahindra Satyam," the company''s Chairman, Vineet Nayyar, said.

On Krishnan''s appointment, Nayyar said that Krishnan''sexperience would enable greater levels of transparency withinthe company and help adhere to industry standards.

Mahindra Satyam is a part of the USD 7.1-billionMahindra Group which is one of the top 10 industrial firmsbased in India. The Group''s interests span financial services,automotive products, trade, retail and logistics, informationtechnology and infrastructure development.