Byju’s, the leading Indian edtech startup valued at $22 billion, has announced a significant restructuring plan that includes the departure of three senior executives. Mukut Deepak, who oversaw the classes 4-10 segment, Himanshu Bajaj, responsible for tuition centers, and Prathyusha Agarwal, the Chief Business Officer, are all leaving the company as part of this organizational shift.
The restructuring aims to streamline Byju’s operations and verticals, resulting in the consolidation of four verticals into two main categories: K-10 and Exam Prep. This strategic move comes at a pivotal time for Byju’s, as the company seeks to secure fresh financing and rebuild the confidence of its stakeholders. The edtech firm is also revisiting its agreements with lenders and investors to ensure alignment with its future plans.
Ramesh Karra, a seasoned leader, will take the helm of the K-10 vertical, while Jitesh Shah will lead the exam preparation business. Byju’s expressed gratitude for the departing executives’ contributions and extended well wishes for their future endeavors. These changes follow recent challenges within the company, including the resignations of Deloitte and key board members and criticism from investors like Prosus regarding reporting and governance practices.
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