Arjun Mohan, the CEO of Byju’s India, has resigned from the ed tech platform after a little over six months. This is as per a report by the Economic Times. This exit comes at a time when the edtech platform is already in deep financial crisis.
Now, Byju's founder Byju Raveendran will look after the India operations, as per the report by the Economic Times. Raveendran might also be making internal announcements based on the latest plans. Mohan, who mentioned his resignation last week, will continue as the advisor of the ed tech platform.
Mohan took over as CEO in September 2023; previously, he was the CEO of UpGrad. He had replaced the former CEO, Mrinal Mohit. When Mohan joined Byju’s, Raveendran said, “His (Mohan’s) expertise will help our turnaround efforts and strengthen our position in the global edtech landscape.”
Byju’s has laid off many of its employees. In its major restructuring plan since September, the company has laid off more than 3,000 employees, and Mohan was a major part of this cost-cutting exercise.
With Mohan’s departure, Raveendran intends to consolidate the India business of the edtech platform into three operations that include tuition centers, apps and AI, and test preparation.
As mentioned before, Byju’s has been in a deep financial crisis. Amid a cash crunch, the company closed most of its offices in India. By August last year, the company had closed 60 percent of its tuition centers as well.
The edtech platform is also in the news for not being able to pay salaries to its employees. After a delay of two months, the company finally started paying out the March salary to its employees in April 2024. The company is supposed to complete the payout process by April 18.
