The honor is especially relevant given that corporate governance best practices are considered key benchmarks by stakeholders who evaluate corporations. In fact, their importance is magnified in difficult economic environments.
"It is a real honor for Satyam to receive such a prestigious award, said Srinivas Vadlamani, Satyam CFO. It is a testament to our efforts to continually innovate and advance corporate governance best practices in our industry and around the world."
The award was presented at the Ninth International Conference on Corporate Governance, held in London. G. Jayaraman, Satyams Global Head of Corporate Governance and the Company Secretary, accepted the honor at a function attended by business leaders, corporate governance experts and policymakers.
The Golden Peacock Award is the latest of several corporate governance honors for Satyam. Investor Relations Global Rankings (IRGR) rated Satyam as the company with Best Corporate Governance Practices for 2006 and 2007. It also won the Golden Peacock Award for Excellence in Corporate Governance from the Institute of Directors in New Delhi in 2002.
This honor demonstrates the value Satyam places on corporate governance, and on the importance of serving the interests of our investors, clients, associates and of society, Jayaraman said.