The Hindu Business Line : Satyam-Tech Mahindra leadership summit from June 19

Hyderabad, June 13 The top brass of Tech Mahindra and Satyam Computer Services are slated to meet here during June 19-21, in what is billed as the most crucial interface that will determine the future direction of Satyam. The “Leadership Summit”, as it is being termed, is expected to see a slew of joint planning strategies and initiatives to be wrapped up that could lead the road to a restructured Satyam Computer.

It would also be perhaps the first big exercise involving a set of integration teams that have been working from Tech Mahindra and Satyam to find synergies after Tech Mahindra picked up 31 per cent stake on April 20.

Tech Mahindra had also grouped-focused teams, which visited different geographies to meet the customers of Satyam in efforts to explain the changed circumstances, its commitment and confidence building. These groups will have the opportunity to interact with leaders dealing with key clients, say sources close to the developments.

June is crucial

People’s issues, emerging at the heart of the management transition and attracting wide attention, would also form a significant part of the challenge for the Summit. The attrition, the implementation of the Virtual Pool Program and the assessment of core strengths of the existing employees poses big challenge. June is turning out to be a defining month for Satyam. First, it was the coming on board of the four representatives of Tech Mahindra along with the six Government nominees. Second, the first board meet approved the Virtual Pool Program impacting 9, 200 employees from June 19.

Then, the open offer for the balance 20 per cent stake buy is set to begin, in the background of the Satyam scrip, racing past the offer price of Rs 58 to reach Rs 80. The Leadership Summit could put in place the restructured face of Satyam.

Meanwhile, the month is seeing hectic activity on the employee performance area. The appraisal phase is on and would end by the first week of July, say sources in Satyam.

Finally, pronouncement from the Union Ministry of Corporate Affairs also clearly indicate the growing control of Tech Mahindra on Satyam. It is now becoming certain that the Government nominated board members would be phased out, leaving decision making to the new owner of the Rs 7,136-crore financial fraud-hit company.

More Stories on : Human Resources | Events | Satyam Computer Services Ltd

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
EdServ launches EdCademy

Salary freeze is good news here…

Satyam-Tech Mahindra leadership summit from June 19