Tech mahindra
Tech mahindra

Satyam’s Top Leaders Announce Action Plan Focusing on Business Continuity, Corporate Transparency and Leadership Transition for Board and Management

Hyderabad, INDIA, January 11, 2009: Satyam Computer Services Limited (NYSE: SAY) today said that it welcomes the Ministry of Corporate Affairs’ appointment of three distinguished members to a newly formed board of directors for the company.

The members are:

  • Mr. Deepak S. Parekh, Chairman of HDFC
  • Mr. Kiran Karnik, former President of NASSCOM
  • Mr. C. Achuthan, Director at the National Stock Exchange, former Member of SEBI, and former Chairman of Securities Appellate Tribunal.

Satyam welcomes this key development, which will ensure the company’s continued operations, help maintain customer confidence and associate morale, and restore investor trust. The new members are eminent and accomplished leaders, recognized in India and around the world for their expertise in finance, law, administration and the IT services industry. Satyam’s leadership team has complete confidence in them, and pledges to work closely and in full cooperation with the new board,” the company said.
The board is expected to meet within the next 24 hours.

“This is a vital stabilizing development for Satyam, and it marks the beginning of a new chapter in the company’s history. It is the best news we’ve received in the past four weeks,” a company spokesperson added.

Satyam Contacts:

For clarifications, write to us at
Or contact our global Satyam PR representatives at:

Deepa Jayaraman

Ajith Henry

Melissa Baratta
+1-212-679-3300 ext. 118

Sandeep Thawani

Dan Bleakman

Reshma Wad Jain

Safe Harbor

This press release contains forward-looking statements within the meaning of section 27A of Securities Act of 1933, as amended, and section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements contained herein are subject to certain risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements. Satyam undertakes no duty to update any forward-looking statements. For a discussion of the risks associated with our business, please see the discussions under the heading “Risk Factors” in our report on Form 6-K concerning the quarter ended September 30, 2008, furnished to the Securities and Exchange Commission on 07 November, 2008, and the other reports filed with the Securities and Exchange Commission from time to time. These filings are available at


Tech Mahindra represents the connected world, offering innovative and customer-centric information technology experiences, enabling Enterprises, Associates and the Society to Rise™. We are a USD 4.6 billion company with 117,200+ professionals across 90 countries, helping over 885 global customers including Fortune 500 companies. Our convergent, digital, design experiences, innovation platforms and reusable assets connect across a number of technologies to deliver tangible business value and experiences to our stakeholders. Tech Mahindra is amongst the Fab 50 companies in Asia (Forbes 2016 list).

We are part of the USD 19 billion Mahindra Group that employs more than 200,000 people in over 100 countries. The Group operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, after-market, information technology and vacation ownership.


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