Satyam boss quits over scandal

The boss of Satyam, India's fourth-biggest software firm, has quit after revealing false accounts, including $1 billion in fictitious reserves, reports the BBC.

Chairman Ramalinga Raju apologised and said: "The gap in the balance sheet has arisen purely on account of inflated profits" during several years. He said he was subjecting himself to the laws of the land and would "face the consequences".

India's benchmark index fell nearly 7% on the news, as Satyam stock shed 82%.

Microsoft has promoted long-time Server and Tools unit head Bob Muglia to president, states CNet.

This is a title elevation for Muglia, whose responsibilities remain the same. He shares the post with entertainment boss Robbie Bach and business software chief Stephen Elop.

The move reflects the growing importance of the server unit, which accounted for $13 billion in revenue in the most recent fiscal year, now making up fully a fifth of Microsoft's total sales.

iLinc, a provider of Web and video conferencing software and online collaboration services, has named Mechelle Childs to lead Customer Experience for the company, according to Reuters.

Childs comes to iLinc with over 20 years' experience in customer care for technology companies. Most recently, Childs served as director of technical services for Lumension Security Corporation, a leading global IT security management company.

With iLinc's customer satisfaction at over 85%, Childs' mission is to continue to improve these ratings, as the company further expands its software as a service Web conferencing and video conferencing offerings.