Ram Mynampati has taken over as interim CEO of Satyam Computer Services following the sudden and unexpected resignation of beleaguered chairman and managing director Ramalinga Raju, who founded India's fourth-largest IT company.
Mynampati, in his new role has moved swiftly to stem the loss of confidence in the former blue chip by addressing an open letter on today's development to his associates at Satyam worldwide.
He said that a "SWAT" team comprising Satyam's senior veterans from all customer facing units, key horizontal competency units and critical support units had been formed to assist him in functioning as interim CEO "as we steer Satyam through this challenging phase."
In a bid to restore shattered morale of the shaken employees, Mynampati emphasised that over the last 21 years "Satyam has been consistently acknowledged for our leadership bandwidth and has a demonstrated reputation for collaborative functioning."
Urging their continuation with the battered firm, he said, "What we have been trained for, we will now put to work. Let us continue to handle our respective areas with total autonomy, freedom and control" and reminded them that Satyam has been acknowledged as being amongst the top three best employers in India by Hewitt and Mercer in independent surveys in 2007 and American Society of Training & Development (ASTD) named us as the best globally, for our Learning practices - the first company outside USA to be ever awarded this honor."
Saying the company was confronted by challenge of continuing business operations, seamlessly and he warned, "This quarter will be tumultuous for us. Rumors will abound and it would be fair to assume that competition will try and leverage it to their advantage."
He said, "We will need your involvement and ideas to make it happen. This might involve even more effort at every level, in the near term. This is the time to prove to the world that we are united and will succeed in overcoming the challenges."
He promised to restore confidence and emerge stronger, "while ensuring increased focus on transparency at all levels, integrity and ethical functioning."
"I want you to stand confidently in front of your families and friends and say that we will now be a better company and that we shall soon be a successful case study of how organisations have turned over a new leaf", he said.
In the meantime, The National Stock Exchange has announced the removal of Satyam Computers from the Nifty, substituting it with Reliance Capital effective from 12 January.
(See: Satyam Interim CEO Ram Myanampati's unedited open letter to Satyam employees)