Friday, January 09, 2009

Prof Ram Mohan Rao quits as Dean of ISB, Hyd., Satyam fallout ..

It was just surprising to hear of Prof Ram Mohan Rao quit Indian School of Business, Hyderabad as its Dean. 

He was an independent Director of Satyam Computers and had quit his Directorship three days back along with Vinod Dham and Prof Krishna Palepu of Harvard Business School (  who incidentally teaches Corporate Governance and Ethics at Harvard..!!). 

Maybe this incident at Satyam is an example to show that in reality you do not practice what you preach. (American style) Preaching is only to earn your bread and butter. There is no better way for Prof Krishna Palepu to teach ethics to his students and admirers from across the world..

All three of them were party to the decisions taken by the Director Board on approving the fudged Balance sheet and other records of the company during their tenure as Directors.

The quitting however, does not absolve them of their responsibilities and duties and will face the legal procedure. He also was on the RBI panel to recommend the new RBI Deputy Governor and had quit from the panel two days back.

Prof Rao was a cool person, composed and always down-to-earth. Very humble, it is very difficult to see him boast of his academic credentials.

How fate changes and the speed with which is does so ..


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