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Satyam says senior leaders committed to stay

Thu Jan 8, 2009 3:00am EST

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HYDERABAD, India, Jan 8 (Reuters) - Senior executives, including the interim CEO, have committed not to resign from India's Satyam Computer Services (SATY.BO) despite a financial scandal, the embattled firm said in a statement on Thursday.

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"Satyam is facing a major crisis, in which the unity and clear strategic direction of its top leadership are of paramount importance," the company quoted senior leaders as saying.

"This collective commitment will serve to significantly assuage concerns of various stakeholders in a highly fluid and challenging situation," the statement said.

The chairman of the outsourcing company resigned on Wednesday saying that profits had been falsely inflated for years, sending the company's shares plunging nearly 80 percent.

The managing director also resigned on Wednesday, but the senior official said there had been no other resignations.

Satyam has appointed Ram Mynampati as the interim CEO. (Reporting by Sumeet Chatterjee; Editing by John Mair)



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