Mynampati replaces Raju as interim CEO

The interim CEO said,Satyam Computer Services is committed to staff,clients and shareholders.

Satyam Computer on Wednesday named President Ram Mynampati as the interim CEO.

Satyam Computer Services is committed to staff,clients and shareholders,the interim CEO said on Wednesday,after its chairman resigned and said the outsourcer’s profits had been inflated over the last several years.

“We are obviously shocked by the contents of the letter,” Ram Mynampati said in a statement,referring to a letter chairman and founder B. Ramalinga Raju sent to the stock exchanges earlier.

Story continues below this ad

“The senior leaders of Satyam stand united in their commitment to customers,associates,suppliers and all shareholders,” Mynampati said,adding senior officials have gathered at Satyam’s headquarters in Hyderabad.

Satyam,India’s No 4 software services exporter,said in the statement it believed its “underlying business model” and growth prospects remained sound even in the challenging financial environment.

India warns of ‘likely humanitarian consequences’ after US H-1B visa fee hike

India27 min ago

India voices concerns over new $100,000 fee for H-1B visa, citing humanitarian impact and family disruptions. Government urges US to address issues, while industry and policymakers study the move for mutual benefits. September 21 deadline for H-1B visa holders to return to US could affect skilled Indian professionals, who make up 72% of beneficiaries.

View all shorts

Live Blog