Byju's Chief Business Officer, Two Other Top Executives Quit Amid Restructuring
The edtech company has restructured business and consolidated four verticals into two.
Byju's has announced the exit of its Chief Business Officer Pratyusha Agarwal and two other senior executives, as the edtech giant says it is undertaking a restructuring of its verticals.
Apart from Agarwal, Mukut Deepak, business head for Byju's Class 4-10 school segment and Himanshu Bajaj, head of Byju's Tuition Centers business have also resigned from the company.
"As Byju's continues to chart its path to profitability and sustainable growth, we have undertaken a restructuring of businesses and verticals, including the consolidation of four verticals into two key verticals — K-10 and exam prep," a company spokesperson told BQ Prime.
The spokesperson confirmed the exits and added that the two consolidated verticals are being headed by Ramesh Karra who leads the K-10 vertical and Jitesh Shah, who leads the exam prep business.
Byju's organisational restructuring and the resulting resignations come at a time when the startup is under scrutiny for delayed financial results, resignations of prominent board members and its auditor and valuation cuts by prominent investors.
The Bengaluru-based startup has also laid off at least 3,600 employees over the past year, amid slowdown in business momentum as Covid-related tailwinds that benefited digital education dissipated.