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Wipro, Satyam see churn at top level
CHENNAI, OCT 17 (Agencies):
Published on 18 Oct. 2008 1:17 AM IST
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This could well be a new spin to the old adage 'when the going gets tough, the tough gets going'. Sudip Nandy, P R Chandrasekhar, Sudip Banerjee, Shailesh Shah and Venkatesh Roddam were till a few weeks heading back top officials at IT companies, but quit just when the global IT outsourcing market is facing a financial tsunami. For the Indian IT companies, which receive around $5 billion a year from banking financial services and insurance (BFSI), situations could not have been more difficult. The exit of old hands is sending wrong signals to youngsters on the bench as well as those on active projects. Chandrasekhar and Nandy were heading operations at Wipro while Shailesh Shah and Roddam were at Satyam. Venkatesh Roddam was in fact, CEO of Satyam's BPO arm, while Shailesh Shah was chief strategy officer at Satyam Computers. In many cases, they were the public faces of the organisations which they headed such as Jaithirth (Jerry ) Rao, chairman, EDS Asia Pacific Advisory Board and founder of MphasiS, who decided to resign from the company in late September. Industry observers say that the main reason for this attrition at the top level might be because of organisational restructuring. "Some of the guys who are quitting are the ones who have got restructured. They actually do not have a choice. The restructuring might be leading them outside their area of expertise and the nature of work is completely seized of what they were doing and what they would want to pursue. A lot of outsourcing work from investment banks have come down. So business managers leading those teams are now looking at various other options," Dr Ganesh Shermon, partner and country head, human capital advisory services, KPMG, said.

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