Byju's India CEO Arjun Mohan quits, company to consolidate business into 3 verticals
Upstox
2 min read • Updated: April 15, 2024, 11:40 AM
Summary
Arjun Mohan had served as Byju's chief business officer before quitting the company in 2020 to join upGrad as its CEO. He returned to Byju's in July 2023. The company has also announced a major reorganisation, consolidating the business into three vertices- The Learning App, Online Classes and Tuition centres and Test prep.
Edtech platform Byju's on Monday announced that its Chief Executive Officer (CEO) Arjun Mohan is stepping down from the role. The company's founder and Group CEO Byju Raveendran will now look over the day-to-day operations. Mohan will serve as an external advisor, the company said in a statement.
Raveendran said Mohan did an “outstanding job” steering Byju's through a challenging period. "We are grateful for his leadership and look forward to his continued contributions as a strategic advisor," he added.
Mohan had served as Byju's Chief Business Officer (CBO) before quitting the company in 2020 to join upGrad as its CEO. He returned to Byju's in July 2023.
Byju's to consolidate business into 3 verticals
The company has also announced a major reorganisation, consolidating the business into three vertices – ‘Learning App’, ‘Online Classes’ and ‘Tuition centres and Test prep’.
These divisions will be led by separate leaders who will independently run the businesses sustainably to ensure profitability.
Raveendran said that the reorganisation marks the start of Byju's 3.0.
"The changes follow an extensive seven-month operational review and cost optimisation exercise led by outgoing Byju's India CEO Arjun Mohan," the release said, adding, "With this new organisational structure and with the return of Byju Raveendran as the operational leader, BYJU'S is now well-positioned to begin its next chapter of innovation-led growth by launching at scale its new suite of AI-first products that have already received an overwhelmingly positive feedback in the pilot phase".
The tech platform said that focusing on its core strengths with three specialised business verticles would unlock new growth opportunities while focusing on profitability.
These developments come when the firm is struggling with a liquidity situation. The company has given up all office spaces except Bengaluru headquarters. It has also undertaken multiple rounds of layoffs.