look news india
Cash-strapped Byju's troubles show no signs of abating. Issues like closure of offices and then salary crisis among the employees were much talked about, now the company led by Byju Raveendran has suffered another big blow. Byju's India CEO Arjun Mohan has said goodbye to the company. The special thing is that he has resigned within a year of joining.
Arjun Mohan left BYJAS
The resignation of Byju's India CEO Arjun Mohan is being considered a big blow for Byju's, while the company is already surrounded by many crises. Arjun Mohan took charge of Byju's India seven months ago. The edutech firm has shared information by issuing a statement in this regard on Monday, April 15. It said that following the resignation of Byjus India CEO, the company's founder Baiju Raveendran is now resuming the day-to-day operational responsibilities. According to the report, after leaving the post, Arjun Mohan will continue to play the role of external advisor in Byju's. The most important thing is that Byju's has been struggling with financial crisis for a long time. Amid the salary crisis, large-scale layoffs have also been seen in the company. Not only this, legal battles are also being seen due to some investors of the company. Byju's recently raised $200 million through a rights issue, but the company is facing hurdles in utilizing it.
Byju's four investors Process, General Atlantic, Sofina and Peak-15 filed a petition in the National Company Law Tribunal (NCLT) against the rights issue, saying it would harm the company. shareholding Will change. Amidst all these problems, big wickets of the company are falling one after the other. BYJU Founder Raveendran praised Arjun Mohan for doing an excellent job in taking BYJU forward in challenging times and said the company looks forward to his contribution as a strategic advisor. According to Raveendran, this is the beginning of Byju 3.0.