Beleaguered Satyam chairman seeks employees’ support

Beleaguered Satyam chairman seeks employees’ support
PTI
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First Published: Tue, Dec 30 2008. 04 19 PM IST

Updated: Tue, Dec 30 2008. 04 19 PM IST
Hyderabad: Under attack from investors and many of the Board members over the Maytas acquisition fiasco, Satyam Computer Chairman Ramalinga Raju on Tuesday solicited support of employees, saying everything possible was being done to get the company back on track.
At the same time, he hit out at the detractors, including four directors who quit the Board over corporate governance issues, saying: “The Board arrived at its decision to bid for Maytas by following all required processes and procedures and while there was a spirited discussion among members, their vote to approve the motion was unanimous.”
Click to read Ramalinga Raju’s letter to employees
Breaking his silence on the embarrassing developments over the last two weeks, Raju said in an open letter to employees that “please be assured that the Board and the leadership team are doing everything that’s possible to get Satyam back on track.
“We cannot do this without your help... I ask for your continued faith in Satyam and for your steadfast focus on your customers, specially in the face of wild speculation and unchecked rumours.”
The letter comes amid reports of uneasiness among the over 50,000 employees of the company, even as speculation was rife that a chunk of its talented employees was already looking for other options.
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First Published: Tue, Dec 30 2008. 04 19 PM IST
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