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regular-article-logo Monday, 26 February 2024

Byju’s ropes in Pai, Rajnish Kumar in move to boost corporate governance

However, founder Byju Raveendran will remain the group chief executive officer (CEO) and Mrinal Mohit will continue to head the India business

Our Special Correspondent Mumbai Published 14.07.23, 09:55 AM
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Byju’s has made three top level appointments as the edtech major looks to boost its operations and corporate governance.

The company has appointed upGrad’s former chief Arjun Mohan as its CEO for international business. However, founder Byju Raveendran will remain the group chief executive officer (CEO) and Mrinal Mohit will continue to head the India business. There was no official comment from Byju’s on these appointments.

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Mohan was with Byju’s for 11 years as its chief business officer before joining Ronnie Screwvala-promoted upGrad as its India CEO. He resigned from upGrad in December last year. Byju’s announced the appointment of former SBI chairman Rajnish Kumar and IT industry veteran T.V. Mohandas Pai to its newly constituted advisory council.

At an extraordinary general meeting (EGM) held earlier this month, Byju’s had told its shareholders about establishing a board advisory committee (BAC) that will advise Raveendran on composition of the board and governance structure to match the scale of the edtech major.

The EGM was called to discuss matters like the planned initial public offering (IPO) of Aakash, the progress made in auditing of the company’s financials, resolution on the TLB (term loan B) dispute and fund raising plans.

“We are honoured to welcome Rajnish Kumar and T.V. Mohandas Pai to Byju’s Advisory Council. Their decision to join this council is a resounding vote of confidence in our mission, vision, and strategic direction,” founders Divya Gokulnath and CEO Byju Raveendran said.

Former CFO at Infosys, Pai, who was also one of the initial backers of Byju’s through Aarin Capital, said he sees a drive in founders Gokulnath and Raveendran to build a successful corporation.

“Byju and Divya are amongst the most impressive entrepreneurs I have worked with from the start-up ecosystem. Since our first contact a decade ago, they have built the largest edtech company.”

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