Satyam loses its board of directors. Although the reasons are not yet clear why they have resigned, Mendu Rammohan Rao, Krishna Palepu and Vinod Dham -- had resigned and that the company will consider a board restructuring when it meets Jan. 10. Previously, Mangalam Srinivasan, a nonexecutive and independent director, resigned. The resignations reduce Satyam's board to five members, down from nine.
Satyam didn't provide a reason for the resignations in its statement and a company spokeswoman declined to comment further. The latest comments from Satyam came after the company said Saturday it has postponed until Jan. 10 a board meeting that was originally scheduled for Monday in order to consider additional strategic options. The company said it has engaged DSP Merrill Lynch to assist it in conducting a review of the company's options to enhance shareholder value.
J V Godwin
Satyam didn't provide a reason for the resignations in its statement and a company spokeswoman declined to comment further. The latest comments from Satyam came after the company said Saturday it has postponed until Jan. 10 a board meeting that was originally scheduled for Monday in order to consider additional strategic options. The company said it has engaged DSP Merrill Lynch to assist it in conducting a review of the company's options to enhance shareholder value.
J V Godwin
Comments
Post a Comment