Edtech giant Byju’s promoted Arjun Mohan to CEO of its India operations on Wednesday. Mrinal Mohit, founding partner and outgoing head of the India business at Byju’s, will be replaced by Mohan as he sets out on a new path to pursue personal goals.
Before recently returning to the company, Mohan, who was a member of the founding team, most recently held the position of chief business officer. Working closely with founder and group CEO Byju Raveendran over the past three months. While not at Byju’s, Mohan spearheaded the edtech business UpGrad.
Presently, Byju’s is considering selling some of its subsidiaries in order to pay back its outstanding $1.2 billion Term Loan B (TLB) due to “difficult business restructuring”.
Even though there are many hurdles, Mohan remarked, “I am prepared to play my part in assisting Byju’s in empowering our present and future generations to succeed in a rapidly changing world.”
“Arjun’s expertise will undoubtedly help our turnaround efforts and strengthen our position in the global ed-tech landscape,” said Byju Raveendran.
In order to obtain between $800 million and $1 billion, Byju’s is considering selling at least two of its subsidiaries, Epic and Great Learning, according to rumors that the business has developed a plan to pay back its outstanding $1.2 billion Term Loan B (TLB).
The $22 billion-plus edtech giant also announced last week that, despite “difficult business restructuring,” it will shortly pay the complete and final settlement dues of laid-off employees.