Byju’s Crisis: CEO of India Steps Down, Arjun Mohan Goes, Founder Raveendran Returns

Arjun Mohan, the CEO of Byju India, resigned from his position only seven months after taking it on. It is believed that Mohan’s departure was brought on by the education tech company’s most recent setback, which included operational, legal, and financial difficulties. The resignation’s cause was not disclosed by the employer. Following a seven-month operational and cost evaluation headed by Mohan, who will assume an external advisory position, the decision was made.

Arjun Mohan became the CEO of Byju’s India in September after joining the company in July to oversee the foreign division.

Byju’s Diverse Emergencies
Particularly after the Covid-19 outbreak, when everyone switched to online learning in various forms, Byju’s was India’s top company. However, ed tech firms like Byjus lost greatly once the pandemic subsided and people resumed traditional offline educational techniques. Numerous failures were experienced by Byju’s, including poor investor confidence, employment losses, and a value decline to below $3 billion from $22 billion in 2022.

Due to a dispute with some of its investors, the business has also postponed paying its staff, alleging financial difficulties.

Byju’s Rehab Strategy
Byju’s will now split into three segments: tuition centers, online classrooms, and headline online learning app company. According to the corporation, it will also include exam preparation in which every unit will have a different head.

Byju’s, a company with operations in 21 countries, said that because the restructure was focused on products rather than location, it would not have an effect on its foreign operations.

Raveendran, the founder, will take over
In addition, the business said that Byju Raveendran, the founder and CEO, would get more involved in day-to-day operations, shifting his recent emphasis from elements like capital raising and international growth.

Prosus and Peak XV were among the investors that voted in February to remove Raveendran because of problems with governance, financial mismanagement, and compliance. The move has been deemed invalid by Byju’s.