After just over six months in the position, Arjun Mohan, the CEO of Byjus India and a close friend of the companys founder, Byju Raveendran, is leaving, according to people with knowledge of the situation. This major top-level exit exacerbates the problem at the struggling edtech company, whose investors are battling Raveendran over a number of concerns.Mohans departure witnesses an old hands comeback!With Mohans departure, sources stated that Raveendran will now assume command of the day-to-day operations at the India company, which is managed by Think & Learn. It would be his first daily position after almost four years. As things are right now, he might announce the most recent adjustments internally. Last year, Mohan took Mrinal Mohits place. Raveendran is back in powerThey had both previously studied under Raveendran while the creator was teaching the common admission test (CAT). Given that Byjus investors decided in February to remove him from his position as CEO of the company during an extraordinary general meeting, Raveendrans proposal to return to the role of operational CEO and oversee day-to-day operations at the company becomes significant. The Karnataka High Court is considering a challenge to the results of this EGM, and the resolutions are not enforceable in the interim.According to those briefed on the situation, Mohan informed Raveendran last week that he was resigning and had submitted his paperwork. For the time being, he will still serve as Byjus counselor.Mohans switch!Mohan, who started working at Byjus in September, oversaw the companys business restructuring, cleaned up a sizable workforce, and oversaw the companys 2.0 business strategy. He was also actively involved in running Byjus physical coaching business, Aakash, which was a valuable asset to the edtech company. He served as chief business officer of Byju before joining Ronnie Screwvalas UpGrad as India CEO, a position he held for almost two years.Prior to formally joining the company, Mohan was consulting for Byjus. He is departing the company after drastically reducing the staff at Think & Learn, where there are currently only 5,000–6,000 people. Senior executives are departing the company due to a lack of capital infusion, and the majority of staff have not received their overdue salaries for the past two months. Soon after entering the company, Mohan oversaw one of the largest job cuts in order to drastically reduce expenses and alleviate the cash situation.Breefings in orderAccording to those briefed on the plans, Raveendran intends to effectively combine the India business into three divisions: exam preparation, tuition centers, and app and AI. This will happen when Mohan leaves. Byjus recently trimmed its overall number of tuition centers to roughly 250 and cleared out a large amount of office space in Bengaluru, the companys headquarters, as well as nationwide.Plans of Ravendran In order to pay staff salaries, Raveendran has been borrowing money from a number of investors. The business has repeatedly released statements claiming that the investor dispute at the National business Law Tribunal (NCLT), Bengaluru, prevents it from using the funds from the rights issuance. Byjus has been ordered by the tribunal to retain the $200 million rights offering proceeds in a different escrow account.
