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TechM renames Satyam as Mahindra Satyam

This article was posted on Jun 21, 2009 and is filed under Stock News

After two days of deliberations on drawing up the road map for the fraud-hit Satyam Computer Services at the ‘Leadership Meet’ that concluded here on Sunday, Tech Mahindra has given the IT outsourcing company a new brand identity — Mahindra Satyam. The logo will be adopted from the Mahindra Group.

“This rebranding exercise symbolises an amalgamation of the Mahindra Group’s values with Satyam’s fabled expertise, even as it retains that part of Satyam’s identity which signifies commitment, purpose and proficiency of the organisation and its people,” Anand Mahindra, vice-chairman and managing director of the Mahindra Group, stated in a press release today.

“This is a significant milestone towards the recovery of the company (Satyam). We are optimistic that this new brand will re-energise the organisation and will be well received by all our stakeholders. With this initiative, we will witness steps by the management to adopt and inculcate the values of ‘performance and customer first’, ‘good corporate governance and citizenship’, which are drawn from the Mahindra Group. With this synergistic approach, Mahindra Satyam will learn from the best management practices of the Mahindra Group while focusing on nurturing Satyam’s innate skills and capabilities,” said Vineet Nayyar, executive vice-chairman on the Satyam board.

“In terms of professionalism, we have always sought the best people for the job and given them the freedom and the opportunity to grow. We will continue to do so. We will support innovation and well reasoned risk taking, but will demand performance. Customer is first… We exist and prosper only because of the customer. We will respond to the changing needs and expectations of our customers speedily, courteously and effectively,” the release said.

source: Business-Standard

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