EDUPRENEUR

Byju's India CEO Arjun Mohan Resigns, Founder Byju Raveendran to Reprise Operational Duties

SUMMARY

Byju's India CEO Arjun Mohan resigns after only six months, dealing another blow to the edtech giant struggling with financial issues. Founder Byju Raveendran will resume day-to-day operations.

Mohan oversaw restructuring and cost-cutting measures but Byju's faces delays in employee salaries and talent loss. Raveendran plans to consolidate the business and seeks additional funding, but legal disputes create hurdles.

Byju's, the embattled edtech giant, faces another leadership shakeup with the sudden resignation of Arjun Mohan, CEO of Byju's India. This development comes amidst ongoing financial struggles and internal restructuring.

Arjun Mohan Resigns: Mohan, who took over as Byju's India CEO just six months ago, has stepped down. This signifies a significant setback for Byju's at a critical time.

Byju Raveendran Resumes Operational Control: Following Mohan's departure, founder Byju Raveendran will reassume control of day-to-day operations for the India business. This marks his return to a more hands-on role after nearly four years.

Investor Dispute: Raveendran's return comes after a group of investors unsuccessfully attempted to oust him as CEO through an extraordinary general meeting (EGM). This legal challenge is currently under an interim stay.

Restructuring and Cost-Cutting: Mohan's tenure saw significant business restructuring and employee downsizing at Think & Learn, the India business entity. He also played a key role in developing Byju's 2.0 business plan.

Financial Woes Persist: Despite cost-cutting measures, Byju's continues to grapple with employee salary delays and a talent drain due to a lack of new capital.

Consolidation Plans: Raveendran intends to consolidate the India business into three divisions: App & AI, test preparation, and tuition centers. This move follows a reduction in the number of tuition centers and office spaces nationwide.

Fundraising Hurdles: Raveendran's efforts to raise capital for salary payments are hindered by legal restrictions due to the ongoing NCLT case regarding the rights issue funds.

Mohan's departure and Raveendran's return to operational leadership raise questions about Byju's future. The company's ability to overcome financial challenges, investor disputes, and talent loss will be crucial for its survival. The success of Raveendran's restructuring plans and his ability to secure additional funding will be closely monitored in the coming months.