Anil Goel, CTO of Byju’s, exits after 3 years, elevating Jiny Thattil as the new CTO
The troubled edtech startup, Byju’s, is experiencing a series of high-level departures, with Chief Technology Officer Anil Goel exiting the company after a three-year tenure. This move is part of a comprehensive restructuring led by India CEO Arjun Mohan.
Addressing inquiries regarding Goel’s departure, a spokesperson for the company stated that it was a “mutual separation.”
In an official statement released on Monday, Byju’s announced the appointment of Jiny Thattil as the new CTO. Thattil, previously the Senior Vice President of Engineering at Byju’s, brings a wealth of experience, having worked with esteemed companies such as Amazon, InMobi, and GE Healthcare in the past.
Announcing the position transition, Arjun Mohan, CEO of Byju’s, said in a statement, “We are delighted to promote Jiny Thattil as the CTO of Byju’s,”. His extensive experience and leadership skills make him the ideal candidate for this crucial role as we continue to rebuild for greater efficiency and sustainability. We would also like to extend our heartfelt gratitude to Anil Goel, the outgoing CTO, for his exemplary work and dedication to driving technological innovation at Byju’s,”
Nearly a month after the resignation of Ajay Goel, who served as the CFO for Byju’s group, Nitin Golani, the President of Finance at Byju’s, was promoted to the position of India CFO. This transition occurred within six months of Ajay Goel joining the company. Additionally, the appointment of Arjun Mohan as the India CEO in September marked a change from the leadership of Mrinal Mohit, a founding partner at Byju’s.
Byju’s amidst troubles
This recent restructuring at the executive level is taking place at a time when there is growing pressure on Byju’s to disclose its audited financial statements for the fiscal year 2022 to the Ministry of Corporate Affairs.
In the preceding month, the startup shared select financial figures with the media, offering insights into its performance in FY22. In an official statement, Byju’s revealed that, excluding any acquisitions, the parent entity, Think and Learn Private Ltd (TLPL), reported an EBITDA loss of INR 2,253 Cr in the fiscal year 2022, compared to an EBITDA loss of INR 2,406 Cr in FY221. However, there was a notable increase in total income, reaching INR 3,569 Cr as opposed to INR 1,552 Cr in the previous fiscal year.
Byju’s is reportedly also trying to sell EPIC for $400-$500 million to settle its debts.
This disclosure comes at a time when the edtech startup, considered the country’s most valued, has been grappling with multifaceted challenges since the preceding year.
