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CEO and CFO for Satyam to be from within the company

Shweta Suri


The Government feels the CEO and CFO for the Satyam Board should be the ones, already associated with it. Corporate Affairs Minister Prem Chand Gupta said that due to lack of time, it would be more prudent to appoint people at the top-level positions for Satyam from inside the company itself. This would cut down on the time period that would go into understanding and handling the operations of the company.


He said that the IT player has many such strong contenders, who have good grasp of the client market created so far by the firm. Choosing among these would spare the ‘much-needed’ time. Talking about the probabilities of former Wipro vice-chairman Vivek Paul entering the troubled firm, he told that these are just guesses. To lure Paul, a lucrative pay package together with the option of 5% stock holding has been offered.


He also informed that about 45 banks were being questioned on not enquiring the reasons for Satyam’s act of diverting income towards sectors, other than IT.

 
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