Véronique Queffélec, Euromédiations
“Satyam in Sanskrit means truth. Truth is transparency, the mean rule of corporate governance“.
- What should Satyam and Raju do?
Mumbai/Delhi: The aborted attempt to acquire two companies promoted by Satyam Computer Services Ltd’s chairman’s family have resulted in a significant loss of face for the company. The deal would have benefited chairman Ramalinga Raju’s family at the expense of minority shareholders. Analysts and fund managers protested against the move in a Tuesday call with the company, and investors battered the company’s stock on Wednesday even after Satyam pulled the plug on the acquisitions, and while the stock regained some lost ground on Thursday, the company’s image has taken a beating. In an attempt to placate analysts, fund managers and shareholders—some are asking the company to pay out its reserves as dividend, and a few have asked for a change in the senior management—Satyam announced that its board is meeting a consider a share buy-back, but the company will have to do a lot more.
Mint spoke to branding, communications, and public relations experts to find out what the company needs to do now.
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