3 shortlisted for Satyam CEO, CFO

Posted By: Staff
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New Delhi, Jan 24: To save the sinking Satyam, the new six member board is in charge of controlling the damage. Hunt for new CEO, CFO has already begun and its not an easy task. Resumes for the two posts is outpouring and board shortlisted 40 applications in this regard.
Though selections will be done next week, three names are in the air for the two posts.

However, there names are yet to be known. They are looking for a CEO who can handle the situation and lead the Satyam to new transition. In a communication to the Bombay Stock Exchange, the board said the new CEO will be a leader of global standing and recognition.

The funding arrangements for Satyam is in final stages, the new board told to BSE. Funds to meet the immediate requirements like salary payments are being raised. On a query on the exact number of employees, the board said: "Prima facie there appears to be no basis to doubt the same. The independent investigation process is expected to reaffirm this fact in the coming weeks."

Satyam director Deepak Parekh indicated that the immovable properties of the company, including campuses, could be mortgaged to raise funds as "they are free of any encumbrance."
The funding arrangements would be made before Jan 28. This would help the company's operational needs till the end of March, 2009.

In a statement after the board meeting it said : ' the collections from receivables have been robust so far making the cash position a little better". However, the immovable properties of the company is free from any encumbrances. This is a sigh of relief for the sinking Satyam.

OneIndia News (With inputs from Agencies)


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