After going through scams after scams the newly appointed Satyam board, consisting of HDFC chairman Mr. Parekh, Nasscom head Kiran Karnik, and others are trying to get the company on track by making all efforts to bring an able, honest and experienced man –manager. They are in search of a new CEO (Chief Executive Officer) and a CFO (Chief Finance Officer) for the company.
As of now Ram Mynampati has been appointed as the interim CEO. Before this suspected racket came to light, Ram used to be paid an annual package of Rs. 3.5 crores. For the new CEO who will be appointed in the coming weeks, he could be offered an attractive deal of employee stock option scheme (ESOPs) which can collectively add up to independent holding of more than five percent stake in the company . In terms of contenders there are options aplenty, but perhaps, not many are interested to take on this controversial post. One of the contenders who’s been in speculation for quite sometime is Vivek Paul. Vivek Paul quit TPG (Texas Pacific Group) in December 2008. He has experience in working with one of the leaders in the Indian IT industry, Wipro. With experience playing one of the vital roles, in the selection process, Vivek Paul not only has experience but also great reputation for being one of the obvious choices. The newly appointed Satyam board and the Andhra Pradesh Government are in talks with Mr. Paul, and are hoping to get a positive response.
Others in the list of consideration include, Mr. Rusi, who is the current vice- chairman of Hexaware. He was a part of Satyam Computer Services in its nascent stage, and was actively involved in the building up of the Satyam empire which was considered as the fourth pillar of the Indian IT industry, the other three being TCS, Infosys and Wipro. Rusi left Satyam and joined Hexaware as a CEO and managed to attract big bucks for the company. So Rusi is a good choice, he knows the dynamics of the company and also its clients.
The list of contenders goes on including Basab Pradhan, co-founder of California based Gridstone research, and who also worked with IT giant Infosys. Phaneesh Murthy, again one of the highest paid employees of Infosys with an experience of more than two decades in the IT industry. Sudip Nandy and R Chandrasekhran, both, who have worked with Wipro and Tata Consultancy Services respectively, are also in the limelight for the same reasons.
