Mahindra Satyam, a leading global consulting and IT services provider, is pleased to announce the appointment of Vasant Krishnan, as its new Chief Financial Officer effective 1st March, 2011. Mr. Krishnan is a Chartered Accountant with over 25 years experience and presently with Mahindra & Mahindra Limited as Sr. Vice President. He will come on board at Mahindra Satyam with effect from 1st March, 2011 in place of S. Durgashankar who will relocate to M&M.

"On behalf of the Board of Directors of Mahindra Satyam, I would like to place on record my sincere appreciation to Durgashankar for his outstanding contribution in bringing order to our financial system, in what were probably the most difficult and trying times in corporate history of India. His ability to motivate a distraught team during the crisis and complete the restatement of our accounts in a record time, speaks volumes of his efforts in rebuilding Mahindra Satyam. I wish him all the very best in his role at Mahindra & Mahindra," said Vineet Nayyar, Chairman, Mahindra Satyam.

Speaking on the occasion, CP Gurnani, CEO, Mahindra Satyam said, "Durgashankar was instrumental in the revival of Mahindra Satyam and helped establish systems to inculcate financial rigour and discipline, thus ensuring greater transparency in our organisation. His contribution in enabling business is well recognized and has been a key factor in arriving at conclusive decisions. We welcome Vasant, who has a wealth of experience at the group level to the Mahindra Satyam family and further strengthen our internal systems, which are needed to support our long term growth strategies."

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