The Hindu Business Line : A.S. Murty sets up task forces

Hyderabad, Feb. 6 Mr A.S. Murty, the newly appointed Chief Executive Officer of Satyam Computer Services, has said that the company has set up task forces in the last 24 hours to focus on the major challenges of regaining customer confidence, retaining key associates and initiating cost optimisation.

“We have identified leaders to drive these initiatives. The unique situation that we are in makes it appear that we should address almost all of them simultaneously. We need to prioritise them. In this direction, we are preparing a 30-60-90 day plan,” Mr Murty said in his first e-mail to the Satyamites across the globe on Friday.

To instil confidence among the associates, who have been in low spirits in the last few weeks, Mr Murty said he would follow the advices pouring in from them. “It is not for us to be history. It is for us to create history, together,” he said.

Soon after taking over as CEO last night, Mr Murty addressed the associates through a video-message and told them that it was no big deal to thrive when the economy was strong and customers lined up to buy products and services.

“The company is down. But not out. It takes a very strong organisation, bonded by true culture and value-based management, to survive a crisis. It is true that we have suffered a blow. We have stabilised the organisation with regard to payroll. We now have secured the funding for timely deliveries and other working capital requirements,” he said.

Mr Murty, however, has decided not to respond to media queries immediately. “Our legal advisors have suggested that the initial responses are sent after due validation,” he replied, in response to a batch of questions sent to him after he took over the reins of Satyam.

Parekh on Share sale

Meanwhile, Mr Deepak Parekh, Chairman of HDFC and member of the Satyam board, said that the board had discussed with the legal advisers the issue of sale of shares by Mr Murty a few days ahead of the Satyam crisis.

“We found that Mr Murty had all the necessary disclosures and had taken required approvals and conformed to the compliances necessary for the sale of shares.

“The sale of shares by Mr Murty was above board,” he asserted, referring to the media reports that the sale might indicate insider sharing.

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