Byju's CEO Arjun Mohan quits, company to consolidate biz in 3 units
Apr 15, 2024, 10:23 IST
In an abrupt move, Arjun Mohan, who was elevated as the embattled edtech firm Byju CEO just about seven months back, has quit to pursue other opportunities, the company confirmed on Monday.
The company's Co-founder and CEO Byju Raveendran will take a more hands-on approach in spearheading the daily operations of the company after Mohan's resignation, who will be part of the edtech firm in an "external advisory role".
The move is aimed at streamlining the operations and positioning the company for "long-term success".
"Mohan has done an outstanding job steering Biju's through a challenging period. We are grateful for his leadership and look forward to his continued contributions as a strategic advisor," Raveendran said.
The company has now decided to consolidate its business into three "focused" divisions -- The Learning App, Online Classes & Tuition Centres, and Test-prep.
Each of these units will have separate leaders who will independently run the businesses sustainably to ensure profitability, said the company.
"This reorganisation marks the start of BYJU'S 3.0 -- a leaner and more agile organisation ready to quickly adapt to evolving market dynamics, especially in the realm of hyper-personalised education," according to Raveendran.
Facing a severe cash crunch, the edtech company in September last year elevated Mohan as the CEO of its India operations.
Mohan succeeded Mrinal Mohit, founding partner and the outgoing head of India business at the company, who embarked on a new journey to pursue personal aspirations.
"By focusing on our core strengths with three specialised business units, we will unlock new growth opportunities while continuing to focus on profitability," said Raveendran.
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The company's Co-founder and CEO Byju Raveendran will take a more hands-on approach in spearheading the daily operations of the company after Mohan's resignation, who will be part of the edtech firm in an "external advisory role".
The move is aimed at streamlining the operations and positioning the company for "long-term success".
"Mohan has done an outstanding job steering Biju's through a challenging period. We are grateful for his leadership and look forward to his continued contributions as a strategic advisor," Raveendran said.
The company has now decided to consolidate its business into three "focused" divisions -- The Learning App, Online Classes & Tuition Centres, and Test-prep.
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"This reorganisation marks the start of BYJU'S 3.0 -- a leaner and more agile organisation ready to quickly adapt to evolving market dynamics, especially in the realm of hyper-personalised education," according to Raveendran.
Facing a severe cash crunch, the edtech company in September last year elevated Mohan as the CEO of its India operations.
Mohan succeeded Mrinal Mohit, founding partner and the outgoing head of India business at the company, who embarked on a new journey to pursue personal aspirations.
"By focusing on our core strengths with three specialised business units, we will unlock new growth opportunities while continuing to focus on profitability," said Raveendran.