By Digbijay Mishra, ETtech
In a significant development, Arjun Mohan, the CEO of Byju’s India, has tendered his resignation, marking his departure from the company after just over six months in the role. Mohan, known to be a confidante of founder Byju Raveendran, leaves amidst ongoing challenges faced by the edtech giant. This departure comes at a crucial time, exacerbating the crisis at Byju’s as it navigates through various issues that have plagued the company over the past year.
Founder Raveendran to Take Charge
Following Mohan’s resignation, founder Byju Raveendran is set to reassume control of daily operations for the India business segment, which is housed under Think & Learn. Raveendran’s return to the helm of daily affairs comes after a hiatus of nearly four years. It is anticipated that he will internally communicate the latest organizational changes in the near future.
Background and Significance
Arjun Mohan stepped into the role of CEO last year, succeeding Mrinal Mohit. Both Mohan and Mohit were former students of Raveendran, having been mentored by him during the early days of the founder’s teaching career for the common admission test (CAT). Mohan’s decision to resign is particularly notable given that a group of Byju’s investors had previously voted to remove Raveendran as the chief executive in a February extraordinary general meeting. However, the outcome of this meeting is currently under challenge in the Karnataka High Court, with an interim stay preventing the enforcement of the resolutions.
Mohan’s Resignation
Arjun Mohan informed Raveendran of his decision to resign last week and has formally submitted his resignation. While he will no longer serve as CEO, Mohan will continue to act as an advisor to Byju’s, at least for the time being. Mohan, who joined Byju’s in September, played a crucial role in streamlining operations and implementing a business restructuring plan, which included significant workforce reductions. Despite these efforts, challenges persist, with a significant number of employees yet to receive their salaries for the past two months.
Raveendran’s Plans
In the aftermath of Mohan’s departure, Raveendran intends to consolidate the India business into three key divisions: App & AI, test preparation, and tuition centers. Byju’s has recently streamlined its tuition center operations, reducing the total number to approximately 250 and vacating several office spaces, including those in Bengaluru, its headquarters. Raveendran has been seeking capital from various investors to address staff salary payments, amidst ongoing legal battles that have constrained the company’s access to capital.
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