Byju’s, India’s edtech giant, has appointed Arjun Mohan as the CEO of India operations after the resignation of CEO Mrinal Mohit, who has been part of the billion-dollar startup for over a decade. The decision, which was announced on Wednesday comes amidst the financial chaos at the company.
CEO Arjun Mohan and Mrinal Mohit were closely related to Byju’s founder Raveendran as both of them were once students of Raveendran while preparing for the Common Admission Test entrance, according to a media report.
The company has said that Mohit’s departure is due to ‘personal aspirations’. Showing great confidence in Arjun Mohan, the official email said, “Arjun Mohan is taking charge as the CEO of India operations. He succeeds Mrinal Mohit, the founding partner and the outgoing head of India business at BYJU’S, who is embarking on a new journey to pursue personal aspirations.”
While the company is facing several financial challenges in 2023, leading to frequent layoffs, valuation markdowns, and multiple resignations from different sectors like tutoring, sales, training, and finance, stepping up as CEO would be an expected turn for the company. However, before acquiring the position of CEO, Mohan had been a member of the founding team and last served as the Chief Business Officer before joining the company again in July 2023.
Mohan has held the position of CEO of UpGrad India in 2020 for two years and rejoined Byju’s three months ago. Prior to joining Mohan, he also worked with TATA Group companies. Raveendran has expressed his gratitude in the same mail, saying that Arjun’s return is a testament to his belief in our mission and the unparalleled opportunities that lie ahead. His expertise will undoubtedly help our turnaround efforts and strengthen our position in the global edtech landscape.”
CEO Arjun Mohan has pursued an MBA from IIM-Kozhikode and graduated from one of the most reputed colleges in India, the National Institute of Technology Calicut. As per reports by LiveMint, Mohan has stated his role in the company as ”I return to Byju’s today, when technology is poised to play an even more important role in making education truly personalized. While challenges are plenty, I am ready to play my role in helping Byju’s empower our current and future generations to thrive in a rapidly changing world.”