In a surprising turn of events, Arjun Mohan, the CEO of Byju’s India, has announced his resignation from the company, merely six months after assuming the position. Byju Raveendran, the founder of the edtech giant, will resume daily operational responsibilities, marking a significant shift in the company’s leadership structure. Mohan will transition to an external advisory role, while Raveendran steps in to steer the ship through turbulent waters.
This development comes amidst a series of challenges that have beset Byju’s over the past year. With the business facing contraction and various issues, Mohan’s departure signals a need for strategic realignment. Byju Raveendran, who previously focused on overarching strategic aspects, will now take a more hands-on approach in managing the day-to-day affairs of the India business, housed under Think & Learn.
“Arjun has done an outstanding job steering Byju’s through a challenging period,” remarked Raveendran, expressing gratitude for Mohan’s leadership and highlighting his continued contributions as a strategic advisor.
Mohan had succeeded Mrinal Mohit as the CEO last year, both being former students of Raveendran. However, the company’s restructuring reflects a concerted effort to adapt to evolving market dynamics. By consolidating operations into three focused divisions – The Learning App, Online Classes & Tuition Centres, and Test-prep – Byju’s aims for a leaner and more agile organizational structure.
“This reorganization marks the start of Byju’s 3.0 – a leaner and more agile organization ready to quickly adapt to evolving market dynamics, especially in the realm of hyper-personalized education,” Raveendran emphasized.
The embattled edtech company has faced a tight liquidity situation, leading to drastic measures such as giving up office spaces and multiple rounds of layoffs. Under Mohan’s leadership, the restructuring efforts resulted in the layoff of nearly 5,000 employees. Moreover, Byju’s has encountered challenges with its investors, with four investors approaching the National Company Law Tribunal (NCLT) over alleged oppression and mismanagement.
Despite the hurdles, Byju’s recently began salary payments after a two-month delay on April 8, 2024, albeit with restrictions on using proceeds from the rights issue. As the company navigates these turbulent waters, the return of Byju Raveendran to the forefront of operational leadership signals a new phase in the company’s journey.
