Will protect interest of stakeholders: Ram Mynampati

Here is a verbatim transcript of Ram Mynapati's first statement post taking over as the Interim CEO.

I am shocked and distressed by the disclosures coming from the organisation today. I can certainly understand and empathise with the pain that everyone of you would be going through based on the events of today.

The board has requested that I assume the role of the Interim CEO to ensure the sustenance of the operations of the organisation. The board will meet as schedule on January 10 to discuss the issues that we have already communicated as well as actions emanating from the events of today.

The most important thing, I believe, is we need to address the interest of the stakeholders, our associates, our customers and the suppliers. The entire senior management team has come together not only to assess the impact of the disclosures but also take specific steps to ensure continuity of our operations. I am confident that with the senior management team with me will be able to quickly put the issues behind us and ensure continuity of our operations and our services delivered to our customers.

I also want to mention that the events today would largely be limited to one specific organisation and should in no way be construed as issues relating to the broader Indian IT industry which continues to thrive and succeed in a broader comparative landscape.

I also want to assure you that we will do everything we can as, an organisation, to ensure that the stakeholders' interests are protected and entrusted.

I would request your understanding and cooperation as we continue to manage what seems to be a challenging time for us.            

Thank You.