Byju’s, the company founded by CEO Byju Raveendran, emerged as a revolutionary player in the ed-tech sector, particularly gaining prominence during the times brought about by the pandemic. Despite its initial rise, reports have indicated a significant decline in Byju’s sales in the post-pandemic period. It has become evident that Byju’s is currently grappling with financial challenges that have persisted for several months. Adding to the challenges, a recent report has brought to light that three senior executives are departing from Byju’s.
According to reports, the three senior executives are departing from Byju’s, further highlighting the current challenges the company is facing. These key figures reportedly include Prathyusha Agarwal, who held the role of the chief business officer, Mukut Deepak – responsible for overseeing the business operations for classes 4 to 10, and Himanshu Bajaj – who served as the Business Head for the company’s tuition centres.
The announcement regarding the departure of these high-ranking executives coincides with a period during which Byju’s is undergoing a reorganisation of its business activities and divisions. As a part of its restructuring, reports indicate that Byju’s is merging four of its verticals into two, namely K-10 and Exam Prep. In a statement from a report, a spokesperson from Byju’s said that two senior executives – Ramesh Karra and Jitesh Shah are managing the K-10 vertical and Exam Prep respectively.
The exit of these seasoned executives can already be seen to be leading an overall reshaping of responsibilities within the organisation, necessitating the appointment of new leaders who can carry forward the company’s mission and make way through its current challenges. “We thank them for their contributions and wish them all the best for their future endeavors,” added a spokesperson from Byju’s.