Rao: On the move

Hyderabad, Jan. 8: Professor M. Rammohan Rao has stepped down as the dean of the Indian School of Business (ISB) today. His role in Satyam as director was questioned after he failed to stand up for shareholders’ interest.

Rao has already been removed from the public sector selection committee and his term at the ISB was to end by June 2009.

He has been replaced by deputy dean Ajit Rangnekar, according to PTI.

Rao had resigned from the Satyam board after the abortive Maytas deal. Institutional investors had vehemently opposed the deal.