- Byju’s co-founder takes over daily operations.
- The company is restructuring into three divisions.
- Investors are pushing for the removal of both co-founders from leadership roles.
Byju Raveendran, co-founder of edtech giant Byju’s, is taking over the day-to-day operations from India CEO Arjun Mohan.
After a seven-month review of Byju’s operations and cost optimization exercises, Mohan will transition to an external advisory role.
Streamlining for success
The company is consolidating its businesses into three divisions: the learning app, testprep services, and online classes and tuition center operations.
Each vertical will operate independently under its own leadership, enabling them to be nimbler, cost-efficient, and better equipped to capitalize on market opportunities.
Investors demand change
Raveendran’s move to take charge of daily operations has been met with resistance from investors who are pushing for the removal of both him and his wife, Divya Gokulnath, from leadership roles.
Byju’s has been facing severe financial challenges, including a steep valuation cut from US$22 billion to US$1 billion, struggles to raise funds, disburse salaries, and pay off debt.
To read the original article: https://www.techinasia.com/byjus-india-ceo-steps-cofounder-raveendran-takes-charge
