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Satyam staff may leave; top leaders pledge stay on

January 08, 2009 15:19 IST

Even as reports are rife that the employees of Satyam [Get Quote] are quitting the company, its top leaders on Thursday pledged to stay on and work jointly to steer the sinking organisation, following financial irregularity disclosures by founder-chairman B Ramalinga Raju.

"Ten of the most senior executives of Satyam, including interim CEO Ram Mynampati, gathered at its headquarters in Hyderabad, (and) have collectively committed not to resign from the company, which has about 53,000 associates.

"About 40 other top managers from various geographical regions -- known as the Leadership Council -- have also given their commitment to remain in the company," Satyam stated.

"The pledges of commitment from these leaders, coming hours after disclosures and the resignation of Raju, underscore the unity and determination of the Satyam leadership to steer the company through this crisis," the eight leaders said in a joint statement.

The company would hold a press conference in Hyderabad on Thursday to outline an action plan to address key concerns of various stakeholders, including customers, investors, employees and business partners.

"Satyam is facing a major crisis in which the unity and clear strategic direction of its top leadership are of paramount importance. This collective commitment will serve to significantly assuage concerns of various stakeholders in a highly fluid and challenging situation," the statement added.

Besides Mynampati, the others staying include Subu D Subramanian, head, manufacturing and automotive; T R Anand, head, media and telecommunications, infrastructure, and semiconductors; Virender Aggarwal, head, Asia Pacific, India, Middle East, Africa; Manish Mehta, head, SAP & testing practices; and A S V Krishnan, human resources head.

However, Satyam CFO Srinivas Valdamani was not on the list.

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