Subscribe to our newsletter and stay informed

Check out our list of top companies

Check out our carefully compiled lists of the most relevant and impactful companies within their fields.

Check out our list of top unicorns

Read and learn about the biggest companies that various countries have produced, how they made it, and what the future looks like for them.

Byju’s Founder Refutes Ousting, Remains CEO

Byju Raveendran personally reassured employees this past Saturday that he still stands at the helm as CEO
February 26, 2024

Byju Raveendran, the visionary behind the edtech giant Byju’s, took to addressing concerns swirling around his leadership, firmly asserting his position as the company's chief executive. This proclamation came in the wake of shareholder deliberations that fueled speculation about his ousting. In a spirited 758-word missive, Raveendran rebuffed claims of his dismissal, citing breaches of fundamental regulatory protocols.

The shareholder consortium, including heavyweights like Prosus Ventures and Peak XV Ventures, issued a statement outlining resolutions aimed at addressing governance lapses and instigating leadership changes. These developments cast a shadow over the future trajectory of the Bengaluru-based firm, once the crown jewel of India's startup ecosystem.

Raveendran, however, contested the legitimacy of the emergency general meeting, highlighting procedural irregularities and lackluster attendance. With only a fraction of shareholders present, he deemed the meeting null and void, dismissing its purported decisions as inconsequential.

Undeterred by the turmoil, Byju’s pressed forward with its ambitious plans, recently launching a rights issue to secure vital funding. Raveendran expressed optimism in the face of adversity, citing overwhelming investor interest and a resolute belief in the company's resurgence.

While acknowledging media scrutiny and misinformation, Raveendran affirmed Byju’s commitment to integrity and refrained from engaging in a public spat. Confident in the company's resilience, he remained steadfast in his conviction that truth and transparency would prevail.

More about: 

Last related articles

chevron-down linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram