Edtech company Byju’s has implemented a business restructuring that has led to the resignation of three top executives, according to a statement from the company. Byju’s spokesperson stated that as part of the restructuring, the firm consolidated its four verticals into two main areas – K-10 and Exam Prep. The K-10 vertical is led by Ramesh Karra, while the exam prep business is led by Jitesh Shah.
The reshuffle has resulted in the departure of Mukut Deepak, Pratyusha Agarwal, and Himanshu Bajaj. This move occurs as Byju’s faces challenges, including a reduction in its fair value by Baron Capital and other significant changes within the company. Notably, the company welcomed former Infosys HR head Richard Lobo and formed an Advisory Council with members like former SBI chairman Rajnish Kumar and ex-CFO of Infosys TV Mohandas Pai. Amid a turbulent period, Byju’s has also experienced changes in board members and auditors, along with legal conflicts and valuation cuts by investors.
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