Byju’s Chief Business Officer Prathyusha Agarwal and two different senior executives have resigned because the struggling Indian ed-tech startup restructures its business and operations, an organization spokesperson stated on Tuesday.
Ms. Agarwal had joined Byju’s in February 2022 from Zee Entertainment Enterprises. Two different business heads – Himanshu Bajaj and Mukut Deepak – had additionally left, the corporate, as soon as India’s most useful start-up, stated.
“As Byju’s continues to chart its path to profitability and sustainable growth, we have undertaken a restructuring of businesses and verticals including the consolidation of four verticals into two key verticals – K-10 and Exam Prep,” the spokesperson stated.
Indian information web site Moneycontrol reported information of the departures earlier within the day.
Byju’s has let go of 1000’s of staff this yr because it grapples with a number of authorized and monetary woes. Challenges multiplied after investor Prosus NV stated that the corporate’s administration “regularly disregarded advice” regardless of repeated efforts by the Dutch-listed tech agency’s former director to enhance governance.
Deloitte, which was slated to audit Byju’s till 2025, additionally give up on account of “long-delayed” monetary statements by the corporate, citing “significant impact” on its means to carry out audits based on vital requirements.
Reuters has reported that Byju’s will file 2022 audited earnings by September and 2023 outcomes by December.
In early July, it constituted an advisory council with investor Mohandas Pai and former State Bank of India chairman Rajnish Kumar to handle company governance points.
