Byju’s CEO Arjun Mohan Steps Down: Who Will Take Over? Founder Raveendran Reveals (Image source: Today Technology Market ResearchDigital)
Byju’s CEO Arjun Mohan Steps Down as CEO, Byju Raveendran, founder of Think and Learn, the parent company of Byju’s, steps into the role of overseeing day-to-day operations following the departure of CEO Arjun Mohan., News agency PTI reported.
In response to the leadership change, Byju’s announces a restructuring, consolidating its business into three distinct divisions: The Learning App, Online Classes and Tuition Centers, and Test-Prep.
The reshuffle follows a comprehensive seven-month review and cost optimization initiative, spearheaded by outgoing CEO Arjun Mohan, aimed at refining operational efficiency.
Byju Raveendran will now take a more active role in guiding the daily operations of the company, marking a shift from his previous focus on strategic endeavors such as fundraising and global expansion.
New Organisational Structure
Transitioning to an external advisory role, Arjun Mohan will continue to support Byju’s and its founders with his extensive expertise in the edTech sector during this transformative phase.
Raveendran’s return to operational leadership and the implementation of the new organizational structure, Byju’s is poised to embark on a new phase of growth, emphasizing innovation-driven expansion. The company plans to scale up its suite of AI-first products, which have received positive feedback during pilot phases.
Edtech company Byju’s has initiated layoffs without providing employees with a performance improvement plan (PIP). The company’s approach to the layoffs reportedly includes informing employees via phone calls and bypassing the customary notice period.
Moreover, Byju’s has faced criticism for yet another delay in the disbursement of salaries. The management attributed this setback to an interim order obtained by “a few misguided foreign investors” in late February. This order has reportedly restricted the utilization of funds raised through a successful rights issue, leading to the salary disbursement delays.
In latest round of layoffs at Byju’s is anticipated to affect between 100 to 500 employees, primarily impacting the sales function within the company.
