Appointment of Satyam's new CEO, CFO delyed

30 January 2009

The search for a new CEO and CFO of  the scandal-hit IT major Satyam seems to have reached a conclusion. The names doing the rounds are Homi Khusrokhan, ex-MD of Tata Chemicals and Partho Datta, ex-group finance director of the Murugappa Group,  as finalists for the CEO and CFO respectively.

Khusrokhan, a professional top manager in companies across sectors, is also reported to have been inducted on the Satyam board though there has been no formal announcement.

Till last month Khusrokhan, a chartered accountant and an MSc in economics from the London School of Economics, was managing director of Tata Chemicals (TCL) since October 2006.

Earlier, he was executive director of Tata Chemicals and, before that, managing director of Tata Tea from 2001 to 2004. Prior to joining the Tata Group, he worked for Glaxo Laboratories (India) for 29 years, rising to become managing director of Burroughs Wellcome in 1995 and MD of both Glaxo and Wellcome (India) in 1996, a position he held till he retired in 2000.

Partho Dutta is ex-group finance director of Murugappa Group and before that he served as CFO, Indal, after 25 years in the company.

Corporate affairs minister PC Gupta said the top appointments would be made by week end, though refusing to divulge the shortlisted names.