Byju’s announced the appointment of Rajnish Kumar, a former chairman of SBI, and TV Mohandas Pai, the former CFO and Board Member of Infosys, as members of the company’s newly established advisory council.
The primary objective of this council is to offer advice and guidance to Byju’s Board and its CEO, Byju Raveendran, on critical matters that play a pivotal role in shaping the company’s future, the company said. Byju’s has been facing a turbulent time in the recent past with three of its independent directors resigning. Its auditor had also quit and the company is yet to file its financial numbers for the last two years.
“As part of the advisory council, I look forward to advising the leadership in evolving the systems of governance and financial reporting, as well as growing an organisational structure that can serve as a resilient foundation for the future of the company,” said TV Mohandas Pai.
Amid a series of setbacks faced by the edtech giant in the past six months, including the resignation of its former auditors, and three board members, and reports of a toxic work environment, the recent appointment to its advisory council comes as Byju’s strives to overcome these challenges.
The appointment of these two leaders in finance and governance to the advisory council will enhance its financial governance mechanisms and leverage expert advice to drive sustainable growth and strategic decision-making.
“My discussions with Byju and Divya convinced me that they are dedicating sincere efforts to steer a course correction of the company’s governance structure. With calibrated guidance from experienced advisors who have come together to support these dynamic entrepreneurs, the company will be able to move forward,” said Rajnish Kumar.
Byju’s however did not confirm whether upGrad’s former CEO, Arjun Mohan, had joined as the CEO of Byju’s international business choosing not to comment.