RIDING THE TIGER
Learning Strategies for Leaders in Turbulent Times
coming May 2010 published by ASTD Press
“It was like riding a tiger, not knowing how to get off without being eaten.” Ramalinga Raju
On January 7, 2009 we watched our Founder and Chairman, Ramalinga Raju, disclose the actions that would cause Satyam’s fall from grace. Those of us who were shareholders saw our investments disappear like a tsunami into a pool of financial destruction. We all looked on in disbelief as the news emerged.
When referring to the widening gap between the real and artificial numbers in the company books, Ramalinga Raju described his situation as: “It was like riding a tiger, not knowing how to get off without being eaten.” In his resignation letter to the company’s board of directors, Mr. Raju stated: “I am now prepared to subject myself to the laws of land and face consequences thereof.”
Yet, around the world, Satyam employees were not prepared to subject themselves to the consequences. Tainted, disgraced, beleaguered, scam hit, scandalized, fraudulent, crisis ridden were the adjectives used to refer to the once iconic brand of “India is IT”. Putting the scale and impact of Satyam’s downfall in proper perspective was The Economist’s cover story “India’s Enron”; Business Week Magazine featured Raju on the cover with the headline “From Icon to I Con”.
So who is Ramalinga Raju?
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