Mahindra Satyam appoints three executives for Americas

MUMBAI - Mahindra Satyam, which was delisted from the New York Stock Exchange in September, said Monday it has appointed three new executives for its Americas operations with a view to restructuring business in that region.

Lakshmanan Chidambaram, who recently joined Mahindra Satyam from Syntel Inc, will head the banking and financial services, manufacturing, healthcare and life sciences verticals, and BPO business group, the company said in a regulatory filing to the Bombay Stock Exchange (BSE).

Based in Boston, Chidambaram will “provide strategic insights and drive vertical centric go-to-market differentiated market solutions”.

The company has appointed two other executives - Arvind Malhotra, who will head strategic accounts, public services, energy and utility and Latin America business groups; and Nishith Mathur, who will head technology, media and entertainment, retail and consumer products and transportation/logistics verticals.

“These executive appointments represent a renewed strategic focus of Mahindra Satyam to position key executives closer to clients and investors,” a company statement said.

“Over the last six quarters, Mahindra Satyam’s Americas operation has shown strong resilience in what were particularly challenging times. We are seeing several growth opportunities across business units,” said Atul Kunwar, president of Mahindra Satyam.

Mahindra Satyam, formerly Satyam Computers, is trying to consolidate its position in the Americas, especially in the US.

The company disclosed its financial statements in September, more than one and half years after Satyam’s founder B. Ramalinga Raju resigned as chairman admitting a massive accounting fraud. After registering massive loss last fiscal, the company has turned into positive during the first two quarters of fiscal 2010-11.