Wednesday, June 24, 2009

Mahindra Satyam: Can it Turn Around?

Satyam Computer brought the largest scandal for Indian outsourcing industry. It came at a very bad time because at that time, the global economy was and still is suffering from the recession. The government intervened and put the owner in prison and legal activities are still going on against him and his accomplices. The company was sold in bid and Tech Mahindra offered the highest amount of money. Now, Satyam has a new name: Mahindra Satyam and already, there have been some changes.

Business Standard reported:

Mahindra Satyam will see another round of reshuffling of top executives tomorrow that will see outgoing CEO AS Murthy getting a new designation and US-based head of commercial division Ram Mynampati being replaced.

Mynampati, who was the President of the Commercial and Healthcare Divisions, has been replaced by Keshav Panda, sources close to the development said.

Panda, who was the head of the Europe business would be replaced by someone from within the Tech Mahindra Group.

Now, the main challenge for the company is to turn around its fortune. It had suffered a lot in the last few months and many major clients felt uneasy about dealing with it. Getting new clients will be very difficult too when the global economy is suffering.

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