Byju’s India CEO, Arjun Mohan, has stepped down. Byju Raveendran, the company’s founder, will oversee daily operations. This transition follows a reorganization of the company’s structure, consolidating its business into three main divisions: The Learning App, Online Classes and Tuition Centers, and Test Prep.
According to the company’s statement, Mohan’s resignation comes just over six months after he assumed the CEO role. He will now transition to an external advisory position within the organization. Byju’s decision to reshuffle its leadership comes amidst the company’s ongoing challenges over the past year.
Byju’s India CEO Arjun Mohan Steps Down, Byju Raveendran to Take Over
Arjun Mohan, the CEO of Byju’s, is leaving to explore new opportunities. Byju Raveendran, the company’s founder, will now handle more day-to-day operations for the Indian business, which is part of Think & Learn. This means Raveendran will be back in charge of daily affairs after about four years.
Raveendran praised Mohan for doing a great job during a tough time for Byju’s. Mohan will still be involved with the company as a strategic advisor, contributing to its growth and direction.
Byju made these changes after carefully reviewing its operations for seven months and finding ways to save costs. Arjun Mohan, the outgoing CEO of Byju’s India, led this review. Now, Byju Raveendran will be more involved in running the company day to day.
Byju’s Reorganizes Leadership Structure and Initiates Byju’s 3.0
Arjun Mohan took over as CEO last year, replacing Mrinal Mohit. Both were former students of Byju Raveendran. Now, the company has reorganized into three main divisions: The Learning App, Online Classes & Tuition Centers, and Test-prep. Each division will have its leader to run it independently and ensure profitability.
This restructuring marks the beginning of Byju’s 3.0, making the company leaner and more flexible to adapt to educational market changes. Byju Raveendran will focus on day-to-day operations again, while Mohan will advise the company externally.
In the past, Raveendran focused on strategic aspects like raising funds and expanding globally. With this new structure, Byju’s plans to launch new AI-driven products on a large scale. The company has faced financial difficulties, leading to office closures and layoffs. Under Mohan’s leadership, restructuring was a big task, resulting in around 5,000 job cuts. Now, Byju’s aims to innovate and grow with its revamped organization and new product offerings.
Byju’s Faces Investor Challenges and Payment Delays
Byju’s is encountering difficulties with its investors, as four of them have taken their concerns to the National Company Law Tribunal (NCLT). The NCLT has instructed the edtech company to hold funds received from the rights issue in an escrow account until the investors’ plea regarding oppression and mismanagement is resolved.
On April 8, 2024, Byju’s resumed salary payments after a two-month delay, despite being prohibited from using the proceeds of the rights issue.
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