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Rediff News  All News  » Business » Mahindra Satyam to get new CFO soon

Mahindra Satyam to get new CFO soon

June 22, 2009 19:50 IST
Satyam Computer, which has been acquired by Tech Mahindra and rebranded as Mahindra Satyam, is likely to get a new chief financial officer (CFO) by the first week of July.

"Various names are under consideration...Mahindra Satyam is likely to have a CFO early next month," a source privy to the development said.

The candidate is likely to be from within the Mahindra group, although she/he may not be from Tech Mahindra, he added. However, when contacted, the Tech Mahindra spokesperson said, "We don't comment on speculation."

Earlier, Tech Mahindra was reported to be considering candidates outside the Mahindra Group.

Satyam plunged into a crisis after its founder B Ramalinga Raju admitted in January to fudging books. The CFO's post has been lying vacant since Srinivas Vadlamani, allegedly involved in the scam, was taken behind bars.

The government-appointed board was given the mandate to appoint both CEO and CFO for Satyam. AS Murthy, who was from Satyam itself, was named CEO. However, the post of CFO is vacant.

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