After days of suspense, some well-publicized leaks and even a statement by the country’s corporate affairs minister, Satyam Computer Services Ltd finally appointed a new CEO. Only, it wasn’t anyone whose name had come up anytime since Satyam’s former chairman and founder B. Ramalinga Raju admitted to having fudged the firm’s books to the tune of at least Rs7,136 crore. It definitely was no outsider from the industry with a lot of experience in multinational and Indian firms, as the minister had said.
Instead, it was an insider of 15 years. A.S. Murty may well be a good man, but he is an “insider”, and one actually recommended by Raju in his confessional letter.
So, what took the board so long to appoint a CEO? And how will it split work responsibilities between him and Homi Khusrokhan and Partho S. Datta, who have both been appointed special advisers?
Still, Murty has been blessed with a name that some consider lucky in the software business, and we wish him all the best.