Almost a year after it was rattled by the Satyam scam, auditing firm PricewaterhouseCoopers (PwC) on Monday announced a sudden change of leadership of India operations as its chairman Ramesh Rajan stepped down prematurely to make way for Gautam Banerjee, who takes over from Singapore with immediate effect.
Rajan, who was at the helm of affairs when the Satyam scam broke early this year, had about one-and-a-half years remaining of his four-year tenure as the chairman of PricewaterhouseCoopers India network of entities (PwC India).
When contacted, he refused to divulge exact reasons behind his sudden exit, and said he wanted time to “look at other things “within the firm and “allow someone else to take charge of the operations.”
Indian operations of the auditing firm has been in the dock for its alleged role in Satyam scam that broke early this year after Satyam founder Ramalinga Raju confessed to cooking the company’s books on January 7, 2009. Rajan, who has been at the helm of PwC India since 2007, was also summoned by CBI to Hyderabad for questioning after the Satyam scam broke.
Source: http://economictimes.indiatimes.com/news/news-by-company/corporate-announcement/Satyam-effect-Chairman-of-PwC-India-steps-down/articleshow/5312184.cms
