CEO of Byju’s India Arjun Mohan resigns

Seven months after taking on the position, Arjun Mohan, the CEO of Byju in India, announced his resignation. Byju Raveendran, the company’s founder, will now lead the organization despite growing challenges in paying off its outstanding debt, staff salaries, and vendor bills.

“The changes follow an extensive seven-month operational review and cost optimisation exercise led by outgoing Byju’s India CEO Arjun Mohan,” the company said in a statement on Monday. Mohan will now transition to an external advisory role, it added.

The company faces an intense legal battle with its investors over alleged financial mismanagement, and compliance and governance issues. Once valued at $22 billion, Byju’s has seen its valuation fall sharply after a series of allegations by investors and investigations by regulators. It is now valued around $250 million, or 99% down from its peak.

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