Byju's chief business officer Prathyusha Agarwal, 2 senior executives resign

The fresh resignations come at a time when Byju's has been grappling with multiple legal and financial challenges. The company restructuringsaid the resignations were part of a restrcturing process. (News Agency) - Byju's Chief Business Officer (CBO) Prathyusha Agarwal and two other senior executives have resigned from the struggling ed-tech firm, confirmed a company spokesperson on Tuesday. Alongside her, Himanshu Bajaj and Mukut Deepak, two other business heads, have also exited the company.
It may be noted that Agarwal joined the edtech firm in February 2022 from Zee Entertainment Enterprises, where she was the chief consumer and data officer. She held several senior positions in Zee for over five years, reported moneycontrol.com.
Deepak was with the company for almost two years, and Bajaj joined in November 2021 to head Byju's Tuition Centers vertical from management consulting company Kearney.
"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 said on the recent exits.
"At present, two very seasoned and senior leaders lead both verticals- Ramesh Karra leads the K-10 vertical while Jitesh Shah leads the exam prep business. And as a part of this reorganisation of businesses, Mukut Deepak, Prathyusha Agarwal, and Himanshu Bajaj will be moving on," the spokesperson added.
In addition, Byju's witnessed the departure of Cherian Thomas, the Senior Vice President for international business, in the previous week.
Byju's, amidst grappling with numerous legal and financial challenges, has parted ways with thousands of employees this year.
Investor Prosus NV highlighted management concerns, noting that advice was often disregarded. Moreover, Deloitte, the appointed auditor until 2025, resigned due to delayed financial statements, impacting its auditing capabilities.
Byju's plans to submit audited 2022 earnings by September and 2023 results by December.
To address governance issues, an advisory council was formed in early July, comprising investor Mohandas Pai and former State Bank of India chairman Rajnish Kumar.