SATAYM UPDATE:The new board of India's fraud-hit Satyam Computer Services said on Thursday it has appointed a senior company executive as chief executive as it battles to revive the outsourcing company.
A S Murty, a Satyam executive for 15 years, will be the chief executive of the company with immediate effect, Satyam said in a statement after a two-day board meeting in the southern city of Hyderabad.
Satyam said the company had also received bank sanctions for 6 billion rupees towards working capital requirements.
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Earlier company affairs Minister Mr P C Gupta has said that CEO will not be from Satyam and the designation will also be not called CEO ! You have to take few thing these ministers say with pinch of salt !