Satyam gets new CEO

Scandal hit, Satyam Computer Services new board has appointed A.S Murty as its new chief executive officer (CEO) with immediate effect.

Deepak Parekh, member of the board said, `` Murty is a Satyam veteran of 15 year, who has been in its forefront since January 1994. He brings to play a deep understanding of the organization proven expertise in leading a business unit, overseeing global delivery, nurturing customer relationships and spearheading the entire gamut of the human resource function. He is well respected for his ability to effectively integrate the team and enable a collective decision making which will be critical as Satyam moves into its revival phase.``

It also disclosed the appointment of Homi Khusrokhan and Partho Datta as special advisors, to assist in it management and finance areas, respectively.The board has also affirmed that the company has received bank sanctions worth Rs 6 billion (USD 130 million) a planned fund infusion towards working capital requirements.

Alonside, it also confirmed that salaries of Jan.9,2009 (globally) and fortnightly had been met from its internal accruals.

Shares of the company declined Rs 3.85, or 7.68%, to settle at Rs 46.25. The total volume of shares traded was 18,867,759 at the BSE (Thursday).