Amidst Challenges Byju's Ropes In Former upGrad CEO Arjun Mohan, To Spearhead Overseas Operations

Educational technology giant Byju's has appointed Arjun Mohan, former chief executive officer (CEO) of upGrad, as the CEO of its international business according to a report from Moneycontrol.

This move comes as Byju's faces various challenges in the industry.

Arjun Mohan, who previously held the position of chief business officer at Byju's for over 11 years, joined upGrad in April 2020 amidst the first wave of the pandemic.

However, he left upGrad in December 2021 to explore new opportunities.

In his new role, Mohan will be responsible for overseeing Byju's overseas operations, while Mrinal Mohit will lead the company's operations in India.

Byju's currently has entities in Singapore, the United States, and the Middle East, which significantly contributed to the company's revenue in the fiscal year 2021 (2020-21).

During the pandemic, Byju's also expanded its presence in the United States by acquiring ed-tech companies like Tynker and Epic.

Both Byju's and Mohit have chosen not to comment on the matter.

Last year in May, Moneycontrol reported that Byju Raveendran, the co-founder and managing director of Byju's, would be shifting his focus to global businesses, particularly in the US.

Byju's had been considering an initial public offering or IPO in the US, either through a direct listing or via special purpose acquisition companies.

Byju's is currently under investigation by the corporate affairs ministry for governance lapses, but it has not yet faced a probe by the SFIO (Serious Fraud Investigation Office).

According to a report in Moneycontrol, the SFIO has initiated an investigation into alleged governance lapses and compliance failures by Byju's.

Since then, the world's most valuable ed-tech firm, Byju's, has faced numerous challenges that have prevented it from achieving its goals.

These challenges include accounting irregularities, conflicts with lenders, the resignation of its auditor, and the departure of three important investor board members.

Currently, Byju's has only three board members: Byju Raveendran, co-founder Divya Gokulnath (his wife), and Riju Ravindran, his brother.

Despite being valued at $22 billion, the company is struggling to overcome these obstacles.

Additionally, there have been recent developments between Byju's and its board members that have raised questions. The details behind these events are worth exploring.

In April, the Enforcement Directorate, India's financial probe agency, conducted a search of Byju's offices under the Foreign Exchange Management Act. Byju's, however, maintains that it has fully complied with the laws and regulations.

To address the challenges it is facing, Byju's has taken a proactive step by establishing a board advisory committee.

This committee will offer guidance and advice to the CEO on matters related to board composition and the appropriate governance structure for the company.

Byju's hopes that this committee will help navigate the current difficulties and ensure a strong future for the company.