After the shocking revelations by Satyam’s ex-CEO, the new board of directors appointed by the government at Satyam Computer has decided to make the appointment of a new CEO as well as a Chief Financial Officer (CFO) its first priority.
Revealing this, new board members Deepak Parekh, Kiran Karnik and C Achuthan further added that Price Waterhouse (PwC) will be discontinued as Satyam’s auditors. The new board has also decided to seek an extension for announcing the Q3 results, which were originally due at the end of this month.
In fact, the new board is not even sure about the January salaries for the nearly 53,000 employees of the IT company.
Asked about the issue of Satyam employees facing pending credit card bills and loan commitments, Parekh – who is also chairman of HDFC Bank – said: “Bankers should be liberal and they should bear with Satyam employees. Even in case of leaving the company and joining another, they are talented. Bankers should give them time.”
Meanwhile, Commerce and Industry Minister Kamal Nath has said that the government’s help to Satyam may include financial support as well, as it is a question of saving jobs and institutional investment.
Source : Mumbai Mirror
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