"To see a company grow from 5000 (people) to 75,000 (people) in about seven years is an exciting, energising, exhilarating and entertaining journey," said Mahindra Satyam CEO C.P. Gurnani on his experience of leading the beleaguered IT services company after it was acquired by Tech Mahindra in 2009.
Gurnani was talking to members of the press in Singapore yesterday (19 April).
Satyam was plunged into a crisis in January, 2009 after its founder, B. Ramalinga Raju, admitted that the company's profits had been overstated for several years. Consequently, it lost a number of clients, and had to settle litigation and fraud charges including from the U.S. Securities and Exchange Commission.
Gurnani and Hari T., Mahindra Satyam's chief people's officer and chief marketing officer, were in the country to take part in a meet-the-customers and analysts briefing event, Futurescapes 2012.
"The reason I use all of these words is, in terms of the way we build the structure of this company, the style of this company, the style is always built around informality," he added. "To keep that informality and style at 75,000 people, I think is one of our biggest achievements."
The company has been on the mend for the last several quarters. In the quarter ended 31 December last year, it reported that revenue grew 34 percent year-on-year to US$315 million, while net profit was up 424 percent. This had impressed the market.
In March this year, the company announced that it is being merged with Tech Mahindra, a key investor in the company after the crisis.
"Yes, we have done a turnaround of Satyam," he said. "In those three years, we took one battle at a time, sometimes it was legal, sometimes it was finance, sometimes it was taxation, sometimes it was business challenges, but one thing we made sure that the kernel never gets disturbed. The kernel of this company was always technology and customers and this kernel did not have any other products but employees, our people. And we stayed with that focus, and I think that has worked very well because ultimately in our business the differentiator is people. If they are engaged, and if they are aligned to a common goal, things happen."
"I'm not trying to say it was not tough," he recalls the three-year journey of Satyam's resurgence. "The best part of this journey now is we think that it is the rebirth of a new company. We don't feel that two old companies have got together, though one company was 43,000 people, other was 32,000 people. But we still believe that it is a start up and we still believe that it will be able to create a new identity (for itself) in the market and the new identity will be built around (that fact that it is) one of the few companies in the world that is network centric, mobility centric, BI and analytics centric."
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