Vineet Nayyar is Mahindra Satyam's new Chairman
Mahindra Satyam has appointed Vineet Nayyar as the chairman of its board and M. Damodaran and Gautam S Kaji as additional directors with immediate effect.
With this the size of the board has increased to eight directors comprising four independent directors (including two nominee directors of the Central government), two non-executive and two whole-time directors. Nayyar will also continue to operate as a whole-time director.
In a career spanning over 40 years, Nayyar has worked with the Government of India, international multilateral agencies and in the corporate sector (both public and private). He started his career with the Indian Administrative Service and held a series of senior positions, after which he worked with the World Bank for over 10 years in a series of senior assignments. Nayyar was the founding chairman and managing director of the state-owned Gas Authority of India and has served as MD of HCL Corporation Ltd and as the VC of HCL Technologies. He was also a co-founder and CEO of HCL Perot Systems.
Damodaran, a retired IAS officer, is currently practicing as an independent consultant in diverse areas of management. He has over 30 years of experience in financial services and public-sector enterprises and has served as the former chairman of the Securities and Exchange Board of India, chairman and managing director of Industrial Development Bank of India and as chairman of the Unit Trust of India. He has also held various positions in the ministry of finance, the ministry of information & broadcasting and the ministry of commerce.
Gautam S Kaji is the former managing director for operations of the World Bank with responsibility for Africa, East Asia and the Pacific and South Asia. He also led the World Bank’s finance and private sector development programs and served as chair of the World Bank’s operations committee.Kaji is currently chairman of Centennial Group, a Washington based policy and strategic advisory firm and their non-profit initiative, The Emerging Markets Forum.
Following these appointments, the board has also appointed Damodaran and Kaji as members of the Audit Committee. Further, the board has also appointed Deloitte Haskins & Sells as Mahindra Satyam’s statutory auditors.
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