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The Tech Phoenix: Satyam's 100 Day Turnaround
Paperback
Biographies GeneralBusiness General
ISBN13: 9789355208224
Publisher: Rupa Publications India
Published: Nov 5 2022
Pages: 256
Weight: 0.72
Height: 0.58 Width: 5.50 Depth: 8.50
Language: English
This book is a must-read for anyone interested in corporate governance--practitioners, academics, students, or policymakers. --Kiran Karnik
On the morning of January 7, 2009, India and the global IT community were stunned as a letter from B. Ramalinga Raju, chairman of Satyam Computers, appeared on all news channels. Raju confessed to manipulating the company's books for years, despite regular audits. The revelation had immediate consequences: Satyam's stock prices plummeted, thousands of employees were affected, and India's reputation as a leading IT service provider was tarnished.
The Tech Phoenix: Satyam's 100-Day Turnaround begins at this crisis point. The government quickly intervened, appointing a new board composed of eminent leaders from various fields. T.N.Manoharan, one of these board members, recounts the extraordinary events of the next 100 days--the fastest corporate turnaround in history.
This compelling account details the meticulous planning, dedication, and decisive actions that restored a fallen company. It also explores the selection of a new investor who infused capital and took control, highlighting the lessons learned in safeguarding stakeholders--employees, investors, and customers--and restoring India's global corporate image.
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