- Ajay Goel, who had been serving as the CFO of Byju’s since April, is leaving the company to rejoin Vedanta, where he previously worked as the Group CFO.
- Byju’s has named Nitin Golani, who currently serves as the President of Finance, as the new CFO. Golani played a significant role in Byju’s acquisition of Aakash in 2021.
- Pradip Kanakia, an industry veteran with over 35 years of experience, has been appointed as a senior advisor. He will work with the founders, the advisory council, and the new CFO in navigating the company’s transformation.
- Byju’s advisory council includes prominent individuals like Rajnish Kumar and T V Mohandas Pai, who joined the council in July.
- Byju’s is dealing with several challenges, including the repayment of Term B loans, the sale of assets such as Great Learning and Epic, and the delay in releasing the annual financial results for FY22. The company has announced that it will file its FY22 results soon. Additionally, recent leadership changes, including a new CEO, were followed by a significant workforce reduction as part of a business restructuring effort aimed at simplifying operations and improving cash flow management.