Boston Consulting Group hired to restore Satyam clients' confidence

by Editor 1/29/2009 4:30:00 PM
Boston Consulting Group (BCG) has been hired to help Satyam Computer Services' board restore the confidence of its clients, investors and staff. A team of three senior BCG professionals will work closely with Satyam leaders and provide the Indian company with management consulting services.

Satyam board member Deepak Parekh said: "An important point to note is that they will not be charging Satyam any fees for their services and this reflects on their commitment to the task on hand.”

"Our focus and our goal here is to shore up and increase the confidence of the different players in that company,” said James Abraham, partner at BCG. “Our focus is going to be work with these three groups (investors, clients and employees) to shore up their continuing confidence in that company, because the core capability has not been destroyed. Our core is actually to make sure that the management structure that operates and runs that company stays intact and the customer confidence remains.”

Earlier this week, the Satyam leadership reassured their employees saying that January salaries would be paid on time. The six executives serving on Satyam’s board also said that they have made a shortlist of candidates for the positions of chief executive and chief financial officer.

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