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India's Satyam to announce new CEO, CFO - reports
MUMBAI, June 23 - Indian fraud-tainted outsourcer Satyam Computer Services Ltd <SATY.BO>, which was acquired by Mahindra & Mahindra <MAHM.BO> group, is expected to announce a new chief executive, the Economic Times reported on Tuesday.
Satyam, which would be rebranded as Mahindra Satyam, was once India's fourth-largest outsourcer. It shocked investors in January when it revealed it had overstated profits for years. [ID:nBOM394323]
C.P. Gurnani, president of international operations at group firm Tech Mahindra <TEML.BO>, is expected to be appointed CEO of Satyam replacing A.S. Murty, the newspaper said.
Mahindra & Mahindra Managing Director Anand Mahindra is scheduled to address a news conference on the group's IT business at 3 p.m. .
Subramaniam Durgashankar, who earlier headed the mergers and acquisition unit of Mahindra & Mahindra, the country's largest tractor and utility vehicle maker, is expected to take over as chief financial officer at Satyam, the Business Standard said.
The newspapers said Sanjay Kalra, president of strategic initiatives at Tech Mahindra, could be promoted to CEO.
A Satyam spokesman could not be immediately reached for comment.
Tech Mahindra, which is 31 percent-owned by Britain's BT Group <BT.L>, emerged a winner in an auction in April for a controlling stake in Satyam.
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