Mr.Karnik - the chairman of Satyam Board

Finally the board of directors of Satyam has appointed former NASSCOM chairman Kiran Karnik as the chairman of the board. The government initially appointed a three-member board with Mr Karnik, HDFC chairman Deepak Parekh and former Securities Appellate Tribunal chief C Achuthan as members. It was expanded later with the induction of three more members, CII chief mentor Tarun Das, former ICAI president TN Manoharan and LIC’s S Balakrishnan.

Karnik also serves on the board of other firms, including BPO firm EXLService Holdings. His appointment to the Satyam board had earlier led to concerns over potential conflicts of interest, but it was later clarified that EXL and Satyam don’t compete with each other. Apart from EXL, he also serves on the advisory board of venture capital firm IDG Ventures India.