Last couple of weeks we saw a drama unfold – a drama that shocked millions of shareholders of Satyam, its 53000+ employees and a nation of a billion people – surely it appeared to be the scam of the century, as far as India is concerned.
In the days that followed, the Government took some stern measures – in that it arrested the Raju brothers, appointed a Board which promises intellect, respect and most of all experience that can sail this army of 53000 employees to a feeling of security, build confidence amongst its investors and lead from turmoil to victory.
Today, the market was abuzz with another news on Satyam. This time with the (t)rumour that Vivek Paul, the erstwhile Vice Chairman of Wipro, is touted to be the next CEO of Satyam Computers.
We don’t know how far this is true but it is believed that his entry to the company will bring a lot of confidence amongst the investors.
So, who is Vivek Paul ? Let’s take a sneak peek at Vivek’s corporate biography
- Vivek Paul is known in the outsourcing industry as a turnaround king. He turned Wipro from a mere $150 million company to a billion dollar IT giant by 2005 – all in a span of seven years.
- Vivek joined a Private Equity Firm, Texas Pacific Group as a partner in 2005 but resigned from the firm in Dec 2008. Some say because he wanted to take active participation in Satyam. In fact, it is believed that Vivek wanted to lead a management buy out of Satyam or mount a take over bid through CSC (Computer Services Corp)
- Vivek Paul was named among the best managers by Business Week, among the top 30 most respected global CEOs of the world by Barrons and among the top influential business managers by Time magazine.
So, with all these credentials and a company like Satyam which has a plethora of challenges to be tackled including streamlining the finances, reassuring the clients, instilling faith in the company, winning the confidence of the employees and most importantly proving to its shareholders that for Satyam it’s a new beginning, Vivek has certainly a lot to win over.
The question is will Vivek (Wisdom) take over Satyam (Truth) as its CEO ?
Time will tell…For now, see this interview by TiECon
Image Credit: Eleaf
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