BYJU'S India CEO Arjun Mohan resigns, founder Raveendran takes charge
Arjun Mohan, the CEO of BYJU'S India, has resigned from his position just over six months after assuming it. This significant shift in leadership comes as the edtech firm faces internal challenges. Following Mohan's departure, founder Byju Raveendran is set to take over the reins of the India business, which operates under Think & Learn.
Raveendran returns to daily operations amid investor dissatisfaction
Raveendran's return to daily operations after nearly four years is particularly noteworthy due to recent investor discontent. A group of BYJU'S investors voted in February to remove him as CEO during an extraordinary general meeting. However, this decision is currently being contested in the Karnataka High Court and is under an interim stay, preventing any enforcement of the resolutions.
Mohan's tenure: Restructuring and staff reductions
Mohan, who joined BYJU'S in September, played a pivotal role in restructuring the business and managing a large workforce. He was also deeply involved in the daily operations of Aakash, a traditional coaching firm owned by BYJU'S. During his tenure, significant staff reductions were made at Think & Learn, which now employs between 5,000-6,000 individuals.
Raveendran's restructuring plans and financial challenges
In the wake of Mohan's departure, Raveendran plans to restructure the India business into three divisions: App & AI, test preparation and tuition centers. Recently, BYJU'S reduced its total number of tuition centers to around 250 and vacated several office spaces nationwide, including its headquarters in Bengaluru. The company has been raising funds from various investors to pay staff salaries amidst an ongoing investor dispute at the National Company Law Tribunal (NCLT) in Bengaluru.
