Second round of mgt rejig at Mahindra Satyam tomorrow

Mahindra Satyam will see another round of reshuffling of top executives tomorrow that will see outgoing CEO AS Murthy getting a new designation and US-based head of commercial division Ram Mynampati being replaced.

Mynampati, who was the President of the Commercial and Healthcare Divisions, has been replaced by Keshav Panda, sources close to the development said.

Panda, who was the head of the Europe business would be replaced by someone from within the Tech Mahindra Group.

Mynampati, also a former board member, had taken over as the interim Chief Executive in January after founder B Ramalinga Raju admitted to have cooked the books of the company for years.

Mynampati was subsequently removed after the government stepped in and disbanded the board and appointed new directors.

Besides this, Tech Mahindra is likely to be make further announcements on top level rejig tomorrow in Hyderabad, the source added.

Yesterday, Tech Mahindra appointed C P Gurnani CEO of Mahindra Satyam and S Durgashankar as the new Chief Financial Officer with immediate effect.

Gurnani succeeded A S Murthy, who was appointed as CEO by the government board after the multi-crore rupee scam broke out in the then Satyam Computer Services. Gurnani has been heading the global operations of Tech Mahindra.

Mahindra Satyam, is also likely to appoint professionals from within the Mahindra and Mahindra Group.

Durgashankar was earlier senior Vice-President (M&A) in Mahindra Group. The post of CFO in Mahindra has been lying vacant since former Satyam CFO Vadlamani Srinivas was arrested for his alleged role in the financial fraud in Satyam.

Mahindra Satyam is also likely to have a new Global head of sales and marketing.