Edtech giant Byju’s troubles are not ending. The company has not yet announced the financial results for the financial year ending March 2022, meanwhile the company’s Chief Financial Officer (CFO) Ajay Goyal has resigned within just 6 months.
Joins back to Vedanta after separation from BYUJ
Before joining BYJU’s, Ajay Goyal was working as Deputy CFO in Vedanta Resources. He joined BYUZ in April 2023. Ajay Goyal will rejoin Vedanta after completing the audit formalities for FY 2022. According to the statement issued by Vedanta, Ajay Goyal will take over as the CFO of Vedanta from October 30, replacing Sonal Srivastava who had resigned on October 23 due to personal reasons. Vedanta has called Ajay Goyal’s joining as ‘homecoming’.
Company Byju has not announced the results of FY22 for a long time, questions were being raised on the company after missing the deadline several times. In such a situation, the sudden resignation of Ajay Goyal is a big blow for BYUZ, because the company also has to announce its FY23 results in December.
Long list of resignations in BYJU’s
Byuse has promoted President-Finance Nitin Golani as India Chief Finance Officer, and has also appointed Pradeep Kanakia as Senior Advisor in the Finance Department. Kanakia has 35 years of industry experience, having held leadership positions at Price Waterhouse and KPMG, while Golani previously held the position of Chief Strategy Officer at Aakash Education.
Ajay Goyal’s resignation is not the first in Byju’s, before this many senior level officials have parted ways with Byju’s and there is a long list. Senior executives like India CEO Mrinal Mohit, Chief Business Officer Pratyusha Aggarwal, Byju’s Class 4-10 school segment business head Mukut Deepak and Byju’s tuition center business head Himanshu Bajaj have recently left Byju’s. Apart from this, Cherian Thomas, who was the Senior Vice President of International Business of the company, has also resigned and distanced himself from the company.
WhiteHat Jr CEO Ananya Tripathi has also left the company, but Byju has not said anything about her resignation, the company says that the resignation is part of restructuring. Earlier this year, key board members who led investors in the startup – Russell Driesenstock of Prosus, GV Ravi Shankar of Peak XV Partners and Vivian Wu of Chan Zuckerberg Initiative – have also resigned. Its auditor Deloitte had also resigned citing long pending financial results.
