BYJU'S hit with more resignations: Three senior executives quit
Edtech start-up BYJU'S has seen the resignation of three senior executives as the company goes through a challenging phase. Prathyusha Agarwal, Chief Business Officer; Himanshu Bajaj, Business Head of BYJU's Tuition Centers; and Mukut Deepak, Business Head for Class 4 to 10, have all stepped down. The company's consolidation of different verticals into two key areas, K-10 and Exam Prep, has rendered their roles redundant, a company spokesperson said.
Senior VP of international business left last week
The "restructuring of businesses and verticals" comes as a surprise considering the importance BYJU'S had given its tuition centers and the K-12 vertical. The exit of three senior executives follows another key resignation from the company last week. Cheriyan Thomas, BYJU'S Senior VP of international business and a key member of the start-up's American business stepped down to become CEO of US-based Impending. BYJU'S decision to restructure some of its businesses comes amid multiple operational issues the firm is facing.
The start-up is trying to fix its problems
The problems faced by BYJU'S include the departure of key board members and its auditor Deloitte. The company has also laid off over 2,000 employees. It faces dissatisfaction from students and parents as well. Over the past few months, the start-up also saw its relationship with creditors deteriorate. In response to these challenges, BYJU's has established a board advisory council, appointed industry veterans as advisors, and hired a new human resources head.
