Vineet Nayyar tipped to be Vice Chairman of Satyam

NEW DELHI/HYDERABAD: Top level changes are in the offing at Satyam Computer Services that has now been re-branded as Mahindra Satyam.

Tech Mahindra CEO and Managing Director Vineet Nayyar is tipped to be the vice chairman of Satyam. Sanjay Kalra, President Strategic Initiatives at Tech Mahindra is set to be elevated to the CEO���s post at the Pune based IT firm.

C P Gurnani, international operations head Tech Mahindra, is likely to be named the new CEO of Satyam. He would replace A S Murty who took charge of the beleagured IT firm after the government appointed a new board to salvage Satyam.

Subramaniam Durgashankar, who was senior vice president (M&A) in the Mahindra and Mahindra group is tipped to be the new chief financial officer at Satyam, said sources privy to the development. A formal announcement will be made by Anand Mahindra, Vice Chairman, Mahindra and Mahindra group.

Tech Mahindra, which now has a 31% stake in Satyam, has been keen on appointing professionals from within the M&M group to put Satyam back on track and help erase its tainted image.

Government nominees on the Satyam board including its chairman Kiran Karnik are expected to step down soon. However, Deepak Parekh, chairman HDFC and member on the Satyam board is likely to continue. The chairman���s slot is set to fall vacant after Kiran Karnik���s exit.

The CFO���s appointment is crucial as Satyam���s accounts are being re-stated by two auditors, KPMG and Deloitte.



Satyam plunged into a crisis after its defamed founder B Ramalinga Raju admitted to fudging the books. His erstwhile CFO Srinivas Vadlamani was also charged of conniving with Raju and was also taken to judicial custody.

Shares of Satyam slid by 0.84% to touch Rs 77.05 on the BSE on Monday.