Byju’s Chief Business Officer and Executives Resign amid Indian Startup’s Restructuring

Byju’s Chief Business Officer and Executives Resign amid Indian Startup’s Restructuring

Byju’s, the Indian ed-tech startup, is undergoing significant changes as it restructures its business and operations. The company announced the resignation of Chief Business Officer Prathyusha Agarwal and two other senior executives, Himanshu Bajaj and Mukut Deepak. The consolidation of four verticals into two key verticals, K-10 and Exam Prep, is part of Byju’s strategy to achieve profitability and sustainable growth. However, Byju’s has been grappling with various challenges, including legal and financial issues. The troubles increased after investor Prosus NV criticized the company’s management for disregarding advice on improving governance. Additionally, Deloitte, which was supposed to audit Byju’s until 2025, decided to quit due to long-delayed financial statements and its ability to perform audits according to necessary standards. Byju’s has been letting go of thousands of employees throughout the year. To address corporate governance issues, an advisory council, consisting of investor Mohandas Pai and former State Bank of India chairman Rajnish Kumar, has been formed. Byju’s aims to file audited earnings for 2022 and 2023 by September and December respectively.

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TIS Staff

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