Arjun Mohan, a former upGrad CEO, has been named the new CEO of the Indian edtech firm BYJU’S, according to persons with knowledge of the situation who spoke to Business Today.
It’s important to note that Mohan is working at BYJU’S again. He spent more than ten years as BYJU’S’s Chief Business Officer prior to this. In 2020, he left the organisation to become CEO of upGrad.
A period of controversy and public scrutiny surrounds the edtech company during the time of the leadership change. Employees’ offer letters have been delayed by the corporation for up to six months.
In addition, a number of former workers claimed that BYJU’S was delinquent in paying provident fund obligations to the appropriate entity, namely EPFO. Despite this, the business continued to collect employee dues. The EPFO launched an investigation into the corporation after this was discovered.
In addition, Deloitte, BYJU’s auditor, resigned last month citing a “significant impact” on its capacity to audit the company as a result of the edtech company’s refusal to give financial data despite the auditor’s repeated demands. Following this development, the Serious Fraud Investigation Office (SFIO) of the Union Ministry of Corporate Affairs began investigating the company.
Notable resignations from the company’s board of directors last month included G.V. Ravishankar of Peak XV, formerly Sequoia Capital India, Vivian Wu of Chan Zuckerberg Initiative, and Russell Dreisenstock of Prosus, representing three out of the company’s six board members, or half of the board. Only Byju Raveendran, Riju Raveendran, and Divya Gokulnath remain on the board of directors after the high-profile resignation.
